Analysis

Equifax Ruling Shows How Cyber Boasts Can Bring Legal Pain

Law360 (January 31, 2019, 9:47 PM EST) -- A Georgia federal judge's ruling that Equifax investors can sue the infamously hacked credit reporting giant for touting its cybersecurity even after its hired consultants spotted glaring flaws may spark other companies to be more careful about how they talk about their own digital defenses.

In Monday's decision against the company and its former CEO Richard Smith, U.S. District Judge Thomas W. Thrash Jr. made clear that the mere fact of Equifax's historic breach was not enough to keep the stock-drop securities suit alive. Instead, he found the investors had crucially made "a multitude of specific, detailed factual allegations" beyond the...

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