Investors Could Find Litigation Success With Equifax Breach
Law360, New York (September 11, 2017, 8:53 PM EDT) -- While investors have a pretty dismal track record at bringing shareholder class actions and derivative suits in the wake of data breaches, a confluence of factors at Equifax, including a sharp stock price drop and suspiciously timed trading, could make the credit monitoring company’s massive hack fodder for securities liability.
Since revealing on Thursday that hackers accessed personal data on 143 million U.S. consumers, Equifax has already been hit with numerous class actions alleging the company failed to protect consumers’ sensitive information, and experts said a wave of securities litigation is sure to follow.
Few public companies previously hit by cyberattacks...
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