Yahoo settlement

[Agent Smith]

Colorado

Simple question. I would like just to receive monetary compensation and not credit monitoring, but reading the settlement webpage here, it appears I need to prove I already have credit monitoring. Since I don't have credit monitoring, nor do I feel the need for it as it pertains to this data breach, can I still request a cash payout instead? Once again, I don't have credit monitoring and it looks like in order to even receive a cash payout I need to verify at least 12 months of credit monitoring. Am I stuck with just having to take two years of credit monitoring?

Also, the claim form wants all kinds of damages reported. I can't claim any at this time. Will that affect monetary compensation or credit monitoring?

Thanks.

 

[quincy]

Colorado

Simple question. I would like just to receive monetary compensation and not credit monitoring, but reading the settlement webpage here, it appears I need to prove I already have credit monitoring. Since I don't have credit monitoring, nor do I feel the need for it as it pertains to this data breach, can I still request a cash payout instead? Once again, I don't have credit monitoring and it looks like in order to even receive a cash payout I need to verify at least 12 months of credit monitoring. Am I stuck with just having to take two years of credit monitoring?

Also, the claim form wants all kinds of damages reported. I can't claim any at this time. Will that affect monetary compensation or credit monitoring?

Thanks.

It appears you are eligible for a minimum two years of credit monitoring services. You have no other losses as a result of the data breach, correct?

The settlement agreement has been proposed but not yet approved, by the way.

 

[FlyingRon]

I can tell you credit monitoring is pretty much the standard in these breaches. The settlement is for monitoring. Either you take their free monitoring, or if you get tiny amount to compensate for your existing monitoring. Unless, as Q points out, you have some actual damages, this is all you're likely to get even if you go outside the class.

 

[quincy]

The $100 payment mentioned in the Yahoo data breach settlement notice, as an indication of what might be awarded to those who already have a credit monitoring service, is an estimate only. The amount awarded can wind up being far less than $100, depending on the number of settlement class members submitting a claim.

I agree with FlyingRon that credit monitoring is the standard damage awarded to members in data breach cases. If someone has suffered actual and substantial damages from a data breach (demonstrable harm), they often will opt out of the class action and pursue a personal action.

 

[FlyingRon]

I suspect the $100 estimate is based on the normally "discounted" rate for one of the popular companies (Lifelock is $99/yr).

 

[quincy]

I suspect the $100 estimate is based on the normally "discounted" rate for one of the popular companies (Lifelock is $99/yr).

I agree. The notice provided potential class members says the $100 is only an estimate. I would not expect anything more than $100 and, instead, would expect far less, if one is opting for cash rather than credit monitoring.

 

[Agent Smith]

You have no other losses as a result of the data breach, correct?

Correct. Other than my data being stolen. I think I'll just leave this one go. There's really nothing in my email that would warrant credit monitoring.

 

[quincy]

Correct. Other than my data being stolen. I think I'll just leave this one go. There's really nothing in my email that would warrant credit monitoring.

In that case, as long as you have experienced no fallout from the data breach, letting it go is probably a good choice.