Scottrade Hit With Class Action Over Data Breach

Law360, New York (May 8, 2017, 2:14 PM EDT) -- Discount brokerage firm Scottrade Inc. failed to take appropriate steps to protect customers’ sensitive data, opening the door to a data breach that compromised more than 4.6 million people’s personal information, according to a proposed class action that landed in Florida federal court Friday.

Angela Lynn Martin’s complaint alleges that Scottrade’s lax data security practices made its databases an easy target for hackers who accessed millions of customers’ personally identifiable information — including Social Security numbers and contact information — from September 2013 to around February 2014 without detection, using the data for a variety of schemes that resulted in the...

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