Altaba to Allocate $ 400 Million to Verizon for Yahoo Settlement Appeal

By Leslie Pappas (October 12, 2021, 6:39 p.m. EDT) – A Delaware Chancellery judge ruled that the former liquidator owner of Yahoo Inc. should set aside $ 400 million to cover the settlement appeal National class action lawsuit of $ 117.5 million arising against Internet provider data breaches.

Altaba Inc. has failed to prove that the $ 58.75 million already paid for the settlement would be sufficient to compensate Verizon Communications Inc. if the appeal is ultimately successful, Vice Chancellor J. Travis Laster wrote on Friday in a 67-page decision.

The vice-chancellor, who is overseeing the liquidation of Altaba’s business, adopted the figure of $ 400 million proposed by Verizon to satisfy its claim for compensation related to …

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