Cyber Insights: Equifax Data Breach Litigation Includes a Securities Suit

In the wake of credit monitoring and reporting firm Equifax’s recent announcement that it had sustained a data breach involving 143 million U.S. customers, a wave of consumer class action lawsuits have followed. In addition, the litigation wave included at least one securities class action lawsuit; with more securities suits likely to follow. Although data breach-related D&O claims have not fared particularly well in the past, there are features of the Equifax situation that may put the securities suits against Equifax in a different category. An interesting question is the extent to which the new lawsuit portends further data breach-related securities litigation going forward.

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