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Shira Ovide

The $1 Billion Price for Yahoo's Incompetence

Shareholders crunch the numbers on the latest embarrassment.

Yahoo can’t help being Yahoo, the technology industry’s most hapless company. And now the market is betting the company's incompetence might cost shareholders $1 billion or more.

Yahoo Inc.’s latest embarrassing stumble was a disclosure on Wednesday that cyberthieves in 2013 siphoned information from more than 1 billion Yahoo accounts, including users' email addresses, scrambled account passwords and dates of birth. Criminals could use the information to go after more sensitive personal data elsewhere online. Yahoo previously disclosed a likely separate cyberattack that involved at least 500 million accounts.