Tech Giants Start 2019 With Major Payouts
January 30, 2019 - Both Google and Yahoo suffered financial hits this month. Last week Google was fined $57 million under the European Union’s General Data Protection Regulation (GDPR). French authorities ruled the company failed to obtain adequate consent when processing the data of consumers using its services. Earlier this month former officers and directors of Yahoo agreed to pay $29 million to settle charges they breached their fiduciary duties in their handling of customer data during a series of cyberattacks from 2013 until 2016 that compromised approximately 3 billion user accounts. This resolved three shareholder derivative lawsuits filed in Delaware and California against the company’s former leadership team and board.