But for the most part, as Kevin LaCroix explained Wednesday at the D&O Diary blog, shareholder lawyers haven’t even bothered bringing securities class actions against big corporations that left confidential data vulnerable to hackers because company shares didn’t drop after data breach disclosures. There’s no point suing unless you can show investors lost money.
Equifax is a different story.
The credit reporting company’s share price plummeted by as much as 18 percent after it disclosed a hack that compromised personal data on as many as 143 million people.
via COLUMN-Will Equifax securities class action break jinx for shareholders?: Frankel