Yahoo faces probe by US SEC over cyber breach
Yahoo is facing a probe by the United States (US) Securities and Exchange Commission (SEC) regarding a previously disclosed cyber breach.
According to Reuters, the SEC is investigating whether two massive cyber breaches should have been reported to investors earlier.
The breaches are the 2014 cyber-attack which left half a billion email credentials exposed and the larger hack that took place in 2013 that compromised more than a billion accounts.
The SEC requested documents in December and is trying to determine if company’s disclosure complied with civil securities laws.
US securities industry laws requires companies to disclose any cyber breaches to investors.
Yahoo’s disclosure came after the company agreed to sell its main business to Verizon Communications Inc. prompting questions regarding the viability of the deal.