Yahoo may be about to discover that no matter how bad things are, they can always get worse. After last year’s revelations that it suffered two massive data breaches affecting over one billion users, the company is now under investigation by the Securities and Exchange Commission for not disclosing the hacks to investors earlier.
The Wall Street Journal reports that the SEC opened the investigation in December, according to people familiar with the matter. With Yahoo still in the process of being acquired by Verizon in a $4.8 billion deal, the Commission has requested documents from the troubled firm to determine if its disclosures regarding the breaches complied with civil securities laws.
Back in September last year, Yahoo said personal data from 500 million users had been stolen by what it believed was a state-sponsored attacker in late 2014.
