Data Breach Class Action Defendants Look To NSA Case

Law360, New York (July 15, 2014, 3:30 PM EDT) -- Recent high-profile data breaches, such as those at Target Corp. and Neiman Marcus Group Ltd., highlight the increasing difficulty businesses face keeping data secure. In 2013, The Privacy Rights Clearinghouse reported 619 data security breaches — comprising in excess of 250 million individual records — in the U.S.[1] The concern over risk of data breach has become so predominant that data security is now often at the top of the due diligence list in M&A transactions. "Ten years ago the topics of privacy and data security in the context of M&A transactions was still nascent. Today, it is essential that we help our clients understand what potential vulnerabilities exist within the target's data environment prior to any acquisition and to develop a plan for remediation," said Michael Lubowitz, co-head of Weil Gotshal & Manges' New York Private Equity and Mergers & Acquisitions department. "Our clients rely on us to identify and address any deficiencies in the target company's privacy and data protection policies, and to ensure that the transfer of personal data as part of an acquisition is in compliance with applicable data privacy and security laws," said Michael Epstein, Head of Weil's Technology and Intellectual Property Transactions practice group....

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