The disclosure of the hack followed an announcement by Verizon Communications that it planned to acquire Yahoo's operating business for US$4.8 billion, but the communications company has said it is evaluating whether the hack had a material impact. Yahoo said in the filing that there are risks that as a result of facts relating to the security incident, Verizon may seek to terminate or renegotiate the terms of its purchase.
The company is facing 23 proposed consumer class-action lawsuits following the hack both in the U.S. and abroad. The company recorded expenses of $1 million related to the hack in the quarter ended Sept. 30.
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