Massachusetts will hit Equifax with first state lawsuit over data breach

This post was originally published on this site
Equifax hack: What you need to know

Equifax hack: What you need to know

Equifax is facing its first lawsuit from a state prosecutor’s office over a massive security breach that exposed the personal data of up to 143 million Americans.

Maura Healey, the attorney general of Massachusetts, announced her official intent to take Equifax to court on Tuesday.

“In all of our years investigating data breaches, this may be the most brazen failure to protect consumer data we have ever seen,” said Healey, a Democrat, in a statement.

Massachusetts will claim that Equifax did not “maintain the appropriate safeguards to protect consumer data,” violating state consumer protection and privacy laws, the attorney general’s office said in a press release.

Under state law, the Massachusetts attorney general’s office needs to issue a five-day notice to the company it plans to sue.

Equifax said on Thursday that sensitive information — such as names, social security numbers, birth dates, addresses and some driver’s license numbers — had been accessed by cyber criminals sometime between May and July.

Since then, the firm has faced a public firestorm over the incident, as well as its response to it.

Equifax initially required people who enrolled in free credit monitoring to waive their rights to sue the company. It later said customers could sue if they sent Equifax written notice within 30 days. On Tuesday, the company made clear that those who use their credit monitoring services do not waive the right to take legal action.

Related: Equifax turned its hack into a public relations catastrophe

New York Attorney General Eric Schneiderman said the clarification came as a result of conversations with his office.

“The victims of this breach shouldn’t also have to worry that they’ve waived their legal rights simply because they were trying to protect themselves. That’s why my office reached out to Equifax last week about the terms of use,” he said in a statement.

Schneiderman’s office is currently investigating the breach, as are attorneys general in Pennsylvania, Connecticut and Illinois.

Private class action suits against Equifax are also pouring in across the country, from California to Alabama to New Jersey.

There could be action on the federal level, too. Members of Congress have called for hearings, and the Consumer Financial Protection Bureau has said it’s looking into what happened.

Be Sociable, Share!

Related Posts

 

MarketTamer is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of MarketTamer are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.


The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.


The content on any of MarketTamer websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options. The www.MarketTamer.com educational training program and software services are provided to improve financial understanding.


The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.