U.S. senator seeks SEC probe of Yahoo disclosure on hackingWASHINGTON (Reuters) - Democratic Senator Mark Warner on Monday asked the U.S. Securities and Exchange Commission to investigate whether Yahoo YHOO.O and its senior executives fulfilled obligations to inform investors and the public about a hacking attack affecting 500 million user accounts. “Disclosure is the foundation of federal securities laws, and public companies are required to disclose material events that shareholders should know about,” Warner said in a letter to SEC Chairwoman Mary Jo White. Yahoo has faced pointed questions about exactly when it knew about the 2014 cyber attack announced last week that exposed the email credentials of half a billion accounts, a critical issue for the company as it seeks to prevent the breach from affecting a pending takeover of its core business by Verizon Inc (VZ.N). Warner also asked the SEC to probe whether Yahoo has “made complete and accurate representations” about the security of its information technology systems, and for the agency to evaluate its current thresholds for how and when companies need to report a material data breach. Although the SEC has longstanding guidance on when publicly traded companies should report hacking incidents, companies that have experienced known breaches often omit those details in regulatory filings, according to a 2012 Reuters investigation.(reut.rs/2dblx5S) In a Sept. 9 regulatory filing with the SEC, Yahoo stated it did not have knowledge of “any incidents of, or third party claims alleging ... unauthorized access” of personal data of its customers that could have a material adverse effect on Verizon’s acquisition. Establishing that Yahoo is liable for damages under SEC rules is a “pretty high bar” in data breach cases, said Robert Cattanach, a lawyer at Dorsey & Whitney who specializes in cyber security.  Yahoo is additionally protected from liability given the relative lack of sensitivity of the data compromised, Cattanach said, though he said both the SEC and Federal Trade Commission were likely to open investigations. At least one state, Massachusetts, is also seeking more information from Yahoo about the breach, a spokesperson for the state’s attorney general told Reuters on Monday.  Yahoo has so far not provided a clear, detailed timeline about when it was made aware of the breach announced Thursday.  Cyber security services firm Stroz Friedberg has been hired by Yahoo to help investigate the breach, firm spokeswoman Carolyn Vadino said.  The FBI is also investigating the hack, which Yahoo has blamed on a “state-sponsored actor” although the company has not provided technical information to support that claim. politicsNews
senator seeks sec probe yahoo disclosure hackingwashington reuters democratic senator mark warner monday asked securities exchange commission investigate whether yahoo senior executives fulfilled obligations inform investors public hacking attack affecting million user accounts disclosure foundation federal securities laws public companies required disclose material events shareholders know warner said letter sec chairwoman mary jo white yahoo faced pointed questions exactly knew cyber attack announced last week exposed email credentials half billion accounts critical issue company seeks prevent breach affecting pending takeover core business verizon inc warner also asked sec probe whether yahoo made complete accurate representations security information technology systems agency evaluate current thresholds companies need report material data breach although sec longstanding guidance publicly traded companies report hacking incidents companies experienced known breaches often omit details regulatory filings according reuters investigation in regulatory filing sec yahoo stated knowledge incidents third party claims alleging unauthorized access personal data customers could material adverse effect verizon acquisition establishing yahoo liable damages sec rules pretty high bar data breach cases said robert cattanach lawyer dorset whitney specializes cyber security yahoo additionally protected liability given relative lack sensitivity data compromised cattanach said though said sec federal trade commission likely open investigations at least one state massachusetts also seeking information yahoo breach spokesperson state attorney general told reuters monday yahoo far provided clear detailed timeline made aware breach announced thursday cyber security services firm story friedberg hired yahoo help investigate breach firm spokeswoman carolina radio said the fbi also investigating hack yahoo blamed actor although company provided technical information support claim politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: U.S. senator seeks SEC probe of Yahoo disclosure on hackingWASHINGTON (Reuters) - Democratic Senator Mark Warner on Monday asked the U.S. Securities and Exchange Commission to investigate whether Yahoo YHOO.O and its senior executives fulfilled obligations to inform investors and the public about a hacking attack affecting 500 million user accounts. “Disclosure is the foundation of federal securities laws, and public companies are required to disclose material events that shareholders should know about,” Warner said in a letter to SEC Chairwoman Mary Jo White. Yahoo has faced pointed questions about exactly when it knew about the 2014 cyber attack announced last week that exposed the email credentials of half a billion accounts, a critical issue for the company as it seeks to prevent the breach from affecting a pending takeover of its core business by Verizon Inc (VZ.N). Warner also asked the SEC to probe whether Yahoo has “made complete and accurate representations” about the security of its information technology systems, and for the agency to evaluate its current thresholds for how and when companies need to report a material data breach. Although the SEC has longstanding guidance on when publicly traded companies should report hacking incidents, companies that have experienced known breaches often omit those details in regulatory filings, according to a 2012 Reuters investigation.(reut.rs/2dblx5S) In a Sept. 9 regulatory filing with the SEC, Yahoo stated it did not have knowledge of “any incidents of, or third party claims alleging ... unauthorized access” of personal data of its customers that could have a material adverse effect on Verizon’s acquisition. Establishing that Yahoo is liable for damages under SEC rules is a “pretty high bar” in data breach cases, said Robert Cattanach, a lawyer at Dorsey & Whitney who specializes in cyber security.  Yahoo is additionally protected from liability given the relative lack of sensitivity of the data compromised, Cattanach said, though he said both the SEC and Federal Trade Commission were likely to open investigations. At least one state, Massachusetts, is also seeking more information from Yahoo about the breach, a spokesperson for the state’s attorney general told Reuters on Monday.  Yahoo has so far not provided a clear, detailed timeline about when it was made aware of the breach announced Thursday.  Cyber security services firm Stroz Friedberg has been hired by Yahoo to help investigate the breach, firm spokeswoman Carolyn Vadino said.  The FBI is also investigating the hack, which Yahoo has blamed on a “state-sponsored actor” although the company has not provided technical information to support that claim. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: senator seeks sec probe yahoo disclosure hackingwashington reuters democratic senator mark warner monday asked securities exchange commission investigate whether yahoo senior executives fulfilled obligations inform investors public hacking attack affecting million user accounts disclosure foundation federal securities laws public companies required disclose material events shareholders know warner said letter sec chairwoman mary jo white yahoo faced pointed questions exactly knew cyber attack announced last week exposed email credentials half billion accounts critical issue company seeks prevent breach affecting pending takeover core business verizon inc warner also asked sec probe whether yahoo made complete accurate representations security information technology systems agency evaluate current thresholds companies need report material data breach although sec longstanding guidance publicly traded companies report hacking incidents companies experienced known breaches often omit details regulatory filings according reuters investigation in regulatory filing sec yahoo stated knowledge incidents third party claims alleging unauthorized access personal data customers could material adverse effect verizon acquisition establishing yahoo liable damages sec rules pretty high bar data breach cases said robert cattanach lawyer dorset whitney specializes cyber security yahoo additionally protected liability given relative lack sensitivity data compromised cattanach said though said sec federal trade commission likely open investigations at least one state massachusetts also seeking information yahoo breach spokesperson state attorney general told reuters monday yahoo far provided clear detailed timeline made aware breach announced thursday cyber security services firm story friedberg hired yahoo help investigate breach firm spokeswoman carolina radio said the fbi also investigating hack yahoo blamed actor although company provided technical information support claim politicsnews