Editor’s Note: For more about Regulation by Litigation, see here.
From: CSO
Equifax now hit with a rare 50-state class action
With a rare 50-State class action suit now being served against Equifax, this highly-publicized case highlights the massive costs and critical damage that companies could face in the wake of a cybersecurity attack. It should serve as a particular warning to companies that hold large quantities of highly sensitive personal information to ensure they have the most effective cybersecurity protocols in place well before an incident occurs.
In the wake of one of the most highly-publicized and highly-sensitive cybersecurity attacks in history, the bad news seems to be never ending for Equifax. A slew of litigation and investigations have quickly followed the breach as consumers and regulators try to grapple with the monumental theft of personal information that resulted from this incident. This includes over 240 individual class action lawsuits, an investigation opened by the Federal Trade Commission, and more than 60 government investigations from U.S. state attorneys general, federal agencies and the British and Canadian governments.
Now, a rare 50-State class action suit has been served on the company. The complaint is an ambitious 322-page document that names plaintiffs from every state and the District of Columbia who claim to have been injured to varying degrees by the Equifax security breach.
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