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12 Jan 2021, 2:19 pm by Kevin LaCroix
., indicated that the “scope of “event-driven” litigation could expand rapidly,” which it has, and led to successful recoveries for public equity investors in BP (2017), Petrobras (2018), Signet Jewelers (2019), and Equifax (2020), among others.[1]  As 2021 kicks-off, and investors frolic on the peaks of public equity valuations, the sustained frequency of securities class actions since 2017 continues to layer on new long-tail claims on insurers’ bloated… [read post]
” The order cites the 2017 Equifax cyber intrusion, a 2015 hacking of US health insurance company Anthem, and 2014 cyber intrusions of security clearance records in the Office of Personnel Management. [read post]
5 Jan 2021, 12:10 pm by Adam Levitin
It's not fair to give them credit for those cases, which included some huge ones like Equifax and Wells Fargo (that's $600 million of civil monetary penalties and $425 million in consumer redress right there for actions started under Director Cordray—that's a huge chunk of the Mulvaney and Kraninger CMPs and consumer redress). [read post]
4 Jan 2021, 1:26 pm by Kevin LaCroix
The directors’ and officers’ liability environment is always changing, but 2020 was a particularly eventful year, with important consequences for the D&O insurance marketplace. [read post]
30 Dec 2020, 2:19 pm by Bruce Zagaris
Zagaris covered the U.S. indictment of four members of Chinese military for hacking into Equifax, the indictments against Chinese hackers and ordering the closure of the Chinese consulate in Houston. [read post]
30 Dec 2020, 2:19 pm by Bruce Zagaris
Zagaris covered the U.S. indictment of four members of Chinese military for hacking into Equifax, the indictments against Chinese hackers and ordering the closure of the Chinese consulate in Houston. [read post]
28 Dec 2020, 1:05 pm
The three national credit reporting bureaus, Experian, Transunion, and Equifax are all offering everyone free weekly credit reports through April 2021. [read post]
17 Dec 2020, 6:15 am by Robert Kraft
” Joseph Baxter, president of the Conference of State Court Administrators, “said that compared to prominent, massive hacks like the 2017 Equifax breach, ‘the judiciary has all that information and then some and in greater volumes that dwarf those private companies. [read post]
7 Dec 2020, 3:06 pm by Sabrina I. Pacifici
We linked administrative health care and demographic data from Medicare, the federal health insurance program for the elderly, to the Federal Reserve Bank of New York/Equifax Consumer Credit Panel (CCP/Equifax) to characterize the financial presentation of ADRD before and after diagnosis…” [read post]
” For example, with respect to debt parking, a systemic fix would require action by Equifax, Experian, Trans Union, and other credit reporting agencies, which could prevent illegal activity “by heeding clear warning signs, such as by cutting off furnishers with unusually high deletion rates. [read post]
In fact, in 2019, the Equifax team conducting benefit charge audits on behalf of employers uncovered nearly $200 million in refunds for employers. [read post]
11 Nov 2020, 1:57 pm by Kevin LaCroix
Some of the lawsuits that were filed have been successful from the plaintiffs’ perspective (see, for example, the Equifax data breach-related lawsuit, which, as discussed here, settled for $149 million dollars), but other cybersecurity-related securities suits have not gotten very far. [read post]
5 Nov 2020, 7:35 am by Kristian Soltes
” Biden has also called for the creation of a public credit reporting agency competing against the likes of Equifax and TransUnion. [read post]
4 Nov 2020, 6:01 am
The 2018 SEC Cyber Guidance followed guidance issued in 2011 and came shortly after the 2017 Equifax breach in acknowledgment that “Cybersecurity risks pose grave threats to investors, our capital markets and country,” as they stated in the guidance. [read post]
1 Nov 2020, 4:35 pm by INFORRM
A complaint from the campaign group Privacy International to the ICO also raised concerns about the data broking industry, specifically Equifax and Experian. [read post]
26 Oct 2020, 2:13 pm by Kevin LaCroix
  As I noted at the outset of this blog post, I had thought that the $149 million Equifax data breach-related securities suit settlement announced in February 2020 might presage the filing of increased numbers of cybersecurity incident-related securities suits, as (I thought) the plaintiffs’ lawyers would be encouraged by the size of the Equifax settlement. [read post]
8 Oct 2020, 8:56 am by Kristian Soltes
Legal and Regulatory Developments SPOTLIGHT: House Panel Says Big Tech Wields Monopoly PowerWall Street Journal – October 6, 2020 America’s biggest technology companies have leveraged their dominance to stamp out competition and stifle innovation, according to a Democratic-led House panel, which said Congress should consider forcing the tech giants to separate their dominant online platforms from other business lines. [read post]
5 Oct 2020, 4:50 am by Parrish McLeod
The three major credit bureaus- Experian, Equifax and Transunion, have all announced that they are offering free credit reports to all Americans on a weekly basis. [read post]