Yahoo to pay $117M in breach settlement

Yahoo has reached a $117.5 million settlement with nearly 200 million people whose email addresses were hacked and personal information was stolen from their Yahoo accounts, the Associated Press reported Wednesday.

According to the AP, the settlement provides for two years of free credit-monitoring services and other possible restitution valued at $117.5 million.

The revised settlement includes at least $55 million for out-of-pocket expenses, $24 million for two years of credit monitoring, up to $30 million for legal costs and up to $8.5 million for other costs, according to Reuters.

The proposed class-action settlement comes in response to the largest data breach in history, Reuters reported Tuesday. The settlement, which was made public Tuesday, still requires the approval of U.S. District Judge Lucy Koh in San Jose, California.

The previous deal offered to pay $50 million, but Koh questioned those initial calculations, according to AP.