Va. senator wants SEC probe of massive Yahoo breach
U.S. Sen. Mark Warner, D-Va., on Monday urged the U.S. Securities and Exchange Commission to investigate whether Yahoo met its legal obligations to keep the public and investors informed about a massive breach of 500 million Yahoo accounts.
In a letter to the SEC, Warner said Yahoo failed to file a Form 8-K disclosure to the public about the breach, and that the company said in a proxy statement on Sept. 9 that it had not experienced any breaches.
Warner said Yahoo knew about the breach as early as July but didn’t inform Verizon, which is in the process of acquiring Yahoo, until Sept. 20. Verizon said on July 25 it would buy Yahoo’s internet business for $4.8 billion.