Equifax Faces Multibillion-Dollar Lawsuit Over Hack

["Dave Farber" <farber () gmail com>]

Begin forwarded message:

> From: Richard Forno <rforno () infowarrior org>
> Date: September 8, 2017 at 12:28:55 PM EDT
> To: Infowarrior List <infowarrior () attrition org>
> Cc: Dave Farber <dave () farber net>
> Subject: Equifax Faces Multibillion-Dollar Lawsuit Over Hack
>
> (x-posted)
>
> Equifax Faces Multibillion-Dollar Lawsuit Over Hack
>
> Class action seeking to represent 143 million consumers alleges company didn’t spend enough on protecting data.
> By
> Polly Mosendz
> September 8, 2017, 8:55 AM EDT
>
> https://www.bloomberg.com/news/articles/2017-09-08/equifax-sued-over-massive-hack-in-multibillion-dollar-lawsuit
>
> Equifax Hack May Expose Data of 143 Million Users
>
> A proposed class-action lawsuit was filed against Equifax Inc. late Thursday evening, shortly after the company 
> reported that an unprecedented hack had compromised the private information of about 143 million people.
>
> In the complaint filed in Portland, Ore., federal court, users alleged Equifax was negligent in failing to protect 
> consumer data, choosing to save money instead of spending on technical safeguards that could have stopped the attack. 
> Data revealed included Social Security numbers, addresses, driver’s license data, and birth dates. Some credit card 
> information was also put at risk.
>
> Equifax first discovered the vulnerability in late July, though it chose not to announce it publicly  until more than 
> a month later. The company was widely criticized for its customer service approach in the aftermath of the hack, as 
> users struggled to understand whether their information had been affected. Others expressed frustration that three 
> senior executives sold about $1.7 million in stock in the days following the discovery of the hack. A spokeswoman for 
> Equifax said the men “had no knowledge that an intrusion had occurred at the time.”
>
> The plaintiffs in the lawsuit are Mary McHill and Brook Reinhard. Both reside in Oregon and had their personal 
> information stored by Equifax.
>
> “In an attempt to increase profits, Equifax negligently failed to maintain adequate technological safeguards to 
> protect Ms. McHill and Mr. Reinhard’s information from unauthorized access by hackers,” the complaint stated. 
> “Equifax knew and should have known that failure to maintain adequate technological safeguards would eventually 
> result in a massive data breach. Equifax could have and should have substantially increased the amount of money it 
> spent to protect against cyber-attacks but chose not to.”  
>
> The case was filed by the firm Olsen Daines PC along with Geragos & Geragos, a celebrity law firm known for 
> blockbuster class actions. Ben Meiselas, an attorney for Geragos, said the class will seek as much as $70 billion in 
> damages nationally.



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