January 11, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Yahoo! Inc. (NASDAQ:YHOO) shares over potential securities laws violations by Yahoo! Inc.and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Yahoo! Inc. (NASDAQ:YHOO) concerning whether a series of statements by Yahoo! Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On September 22, 2016, Yahoo! Inc. revealed that a recent investigation confirmed that sensitive personal account information of at least 500 million account users was stolen from the companys network in late 2014 by what it believes is a state-sponsored attack. Reportedly users names, email addresses, phone numbers, dates of birth, hashed passwords, and in some encrypted or unencrypted security questions and answers were included in the data breach.

A class action lawsuit has been filed against Yahoo! Inc. regarding security breach affecting nearly 500 million users. The Complaint alleges that Yahoos actions were reckless as they disregarded the safety and security of Yahoo users personal information. The Complaint claims that Yahoo should be held responsible for their insufficiencies and the damages caused to its users. Unlike several other recent data breaches, Yahoo! Inc. has not offered users any assistance with identity theft protection, while Yahoo! Inc. users are now at a greater risk of having their identities stolen and must find their own way and pay to protect themselves.

On December 14, 2016, Yahoo! Inc. announced that it had uncovered a data breach, stating that data from more than 1 billion user accounts was compromised in August 2013.

On January 11, 2017, NASDAQ:YHOO shares closed at $42.59 per share.