Horwich Quoted on SEC Probe Over Yahoo Data Breaches

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Horwich Quoted on SEC Probe Over Yahoo Data Breaches

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Vanity Fair

Partner Allan Horwich was quoted in this Vanity Fair article about whether Yahoo Inc.’s two major data breaches should have been reported to investors earlier, given Verizon Communications Inc.’s pending acquisition of the publicly held company.

Allan noted that the materiality of the data breach information may take on greater significance due to the pending deal. He added, “This might implicate representations and warranties Yahoo made in the deal documents, which, even though not made directly to the public, may have been included in public filings in connection with the deal.”

Allan concluded that this fact-sensitive inquiry may involve hindsight judgments of when information was known to be material.