News and Events for Attorneys and Executives

Yahoo’s Top Lawyer Resigns, CEO Marissa Mayer Loses Bonus in Wake of Hack

Yahoo’s top lawyer, Ronald S. Bell, has resigned, and its chief executive, Marissa Mayer, lost her 2016 bonus after a board investigation of the 2014 theft of information on more than 500 million user accounts, reports The New York Times.

“Senior executives, company lawyers and information security staff were aware of the hack in 2014 and also knew about subsequent attempts to break into the affected accounts in 2015 and 2016, but failed to ‘properly comprehend or investigate’ the situation, the company’s board of directors said in a securities filing on Wednesday,” writes reporter Vindu Goel.

Yahoo’s GC is bearing much of the blame for the company’s security failures, including the hack that left up to 32 million Yahoo accounts vulnerable. The company now faces 43 consumer class-action suits related to breaches, as well as a stockholder class-action suit, the report says.

Read the NYT article.

 

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