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Chief Judge Thomas Thrash of the Northern District of Georgia gave final approval to the $7.75m settlement yesterday during a hearing held via Zoom. Legal fees of $2m were included in the resolution. As part of the agreement, Equifax has committed to investing an additional $25m to enhance data security measures tailored to financial institutions. The investment is […]
Equifax, Inc. has agreed to a proposed settlement with a subclass of financial institutions to resolve allegations that it failed to protect the personal data of over 140 million Americans from cyberattack, according to an unopposed motion for preliminary approval filed in the Northern District of Georgia. The proposed settlement provides for a $5.5 million […]
Lawyers who hammered out a $1.4 billion class settlement with Equifax over a 2017 data breach are slamming objectors who they contend will postpone compensation to 147 million people whose financial data was stolen. In two pleadings filed this week, the consumers’ lead counsel and liaison counsel excoriated two pro se “serial objectors” and urged U.S. […]
Over the last several years, plaintiffs’ lawyers have filed a number of D&O lawsuits against companies that had been hit with a cybersecurity incident. These suits have largely been unsuccessful, with the exception of the lawsuits filed against Yahoo in the wake of that company’s data breach. While the plaintiffs’ track record in data breach-related […]
As described in the indictment, the hackers broke into Equifax’s network through a vulnerability in the company’s dispute resolution website. Once in the network, the hackers spent weeks conducting reconnaissance, uploading malicious software, and stealing login credentials, all to set the stage to steal vast amounts of data from Equifax’s systems. While doing this, the […]
Colorado Northwestern Community College President Ron Granger blurted out the first thing that came to mind when he was asked in August what he would do for the school if he had the money: build a cybersecurity program. That was a pretty bold idea for a school serving a region best known for outdoor recreation […]
Big-three credit bureau Equifax has reportedly agreed to pay at least $650 million to settle lawsuits stemming from a 2017 breach that let intruders steal personal and financial data on roughly 148 million Americans. Here’s a brief primer that attempts to break down what this settlement means for you, and what it says about the […]
Equifax has agreed to pay as much as $700 million to settle a series of state and federal investigations into a massive 2017 data breach that left more than 147 million Americans’ Social Security numbers, credit-card details and other sensitive information exposed. The punishment includes payments to affected consumers, fines to peeved regulators and a […]
Equifax, the Atlanta credit bureau, revealed in its earnings release Friday that dealing with its 2017 cybersecurity incident has cost about $1.4 billion plus legal fees. A year and a half ago, the company, which gathers consumers’ credit histories, revealed a massive security breach compromised the personal information of about 150 million people. via Equifax […]
Equifax is expecting various forms of punishment from the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s massive data breach that exposed the personal information of 148 million U.S. consumers to hackers. The company revealed the expected sanctions in a recent filing with the Securities and Exchange Commission. via […]
Meredith Griffanti, who was strategy & communications leader for the office of transformation at Equifax, has joined FTI Consulting in Washington as managing director in its crisis & issues management practice. via Equifax Data Breach Crisis Vet Joins FTI – Mon., Feb. 25, 2019.
But as the investigations continue, a consensus is starting to emerge to explain why the data has disappeared from sight. Most experts familiar with the case now believe that the thieves were working for a foreign government and are using the information not for financial gain, but to try to identify and recruit spies. via […]
Equifax said Thursday that 2.4 million more consumers than previously reported were affected by the massive data breach the company suffered last year, adding to an already stunning toll. This means that as many as 147.9 million consumers have been affected in some way by the breach, which amounts to about half the country. via Equifax’s massive 2017 […]
At least six teams of lawyers are competing for the top leadership posts in the lawsuits brought over Equifax Inc.’s massive data breach. Four proposed slates, ranging from seven to 12 lawyers, have filed motions to lead the class actions filed by consumers. Equifax revealed last year that more than 145 million of its customers […]