Equifax Looks To Ditch Shareholder Data Breach Fraud Claims
By Dunstan Prial (June 8, 2018, 5:01 PM EDT) -- Equifax Inc. has asked a Georgia federal judge to dismiss a lawsuit by a proposed consolidated class of investors who sued after Equifax's stock fell following the company's announcement of a massive data breach, saying the investors haven't shown Equifax officials committed fraud by knowingly misleading them.
The plaintiffs' complaint fails to cite any false or misleading statements made by Equifax in connection with the breach that impacted the company's stock price, Equifax's Thursday motion to dismiss states. As a result, the allegations made by the putative class of investors fall "far short" of the pleading standards required by federal law,...
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