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Yahoo shares plunge as Verizon explores nixing deal

Thursday, December 15, 2016 - 01:27

Verizon is looking at ways to modify or nix its $4.8 billion deal to buy Yahoo's core internet business after the technology company disclosed a second massive data breach. Bobbi Rebell reports.

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Yahoo stock plunging after reports about Verizon exploring lower price or even nixing a $4.8 billion deal to buy the ailing internet company. Yahoo said on Wednesday it had uncovered yet another massive cyber attack affecting more than one billion users-making it the largest in history. The breach happened in August 2013. Stolen information included names, e-mail addresses, telephone numbers, dates of birth, passwords, and security questions and answers. Cyber security expert, Adam Levin and author of "Swiped." (SOUNDBITE) ADAM LEVIN, CHAIRMAN, IDT911 (ENGLISH) SAYING: "Yahoo screwed up big time, and this isn't the first time. This is already the second time this has occurred. Even though, chronologically, it may be the first time, the concept that somebody was allowed to crawl in and through the Yahoo systems, exposing over one billion people. This is one seventh of the population on the world. We're talking about Deepwater Horizon magnitude disaster." The FBI is looking into the breach, and several lawsuits on behalf of Yahoo shareholders are in the works. The breach is the latest setback for Yahoo, an internet pioneer that has fallen on hard times in recent years. It has been eclipsed by younger, fast-growing rivals, including Alphabet's Google and Facebook.

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Yahoo shares plunge as Verizon explores nixing deal

Thursday, December 15, 2016 - 01:27