The Transport Guy: Yahoo's top lawyer is out after investigation finds Yahoo execs didn't 'properly comprehend or investigate' massive hacks (YHOO, VZ)

Steve Kovach March 01, 2017 at 02:52PM

Yahoo released findings of its independent investigation into a major hack that led to Verizon lowering its offer to buy the company by about $350 million.

As a result of the investigation, CEO Marissa Mayer did not receive her expected cash bonus in 2016. Mayer also voluntarily gave up her 2017 bonus and equity grants. Yahoo's general counsel, Ronald S. Bell, also resigned from the company.

The investigation found that Yahoo's security team knew of the hacks that compromised millions of user accounts in 2015 and 2016. The attacks took place in 2014, but were not publicly disclosed until last year, saying 500 million accounts were compromised. 

The investigation also found that some Yahoo executives "did not properly comprehend or investigate" the attacks. However, the findings also make clear that there was not an "intentional suppression of relevant information."

In other words, Yahoo did not intentionally hide the hacks from Verizon during the sale process or its users.

Verizon's acquisition of Yahoo is expected to close this spring.

SEE ALSO: Yahoo's board is not paying Marissa Mayer her 2016 bonus because of the hacking incidents

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Yahoo's top lawyer is out after investigation finds Yahoo execs didn't 'properly comprehend or investigate' massive hacks (YHOO, VZ) from Business Insider: Steve Kovach