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SEC Said To Be Investigating Yahoo Over Massive Data Breaches
"U.S. authorities are investigating whether Yahoo Inc.’s two massive data breaches should have been reported sooner to investors, according to people familiar with the matter, in what could prove to be a major test in defining when a company is required to disclose a hack."
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BNA: California Data Security and Breach Notification Requirements
"In 2002, California was the first jurisdiction worldwide to pass a law requiring businesses and government agencies to notify California residents of data security breaches"
Corporate Counsel: Yahoo Data Breach May Trigger Patchwork of Legal Duties Under State, Federal, EU Rules
"The Yahoo Inc. breach ... could trigger a number of legal and regulatory requirements from 47 different state breach notification laws in the United States, as well as inquiries from federal or international regulators."
(Gradually, other states followed California's lead.)