Last week, the Wall Street Journal reported that this past spring Google had exposed thousands of the Google+ social network users’ private data and then opted to withhold disclosure of the incident because of concerns that doing so would attract regulatory scrutiny and harm the company’s reputation. Following the news reports, questions immediately were asked about a possible SEC investigation of the incident. And now, these developments have drawn two new securities class action lawsuits in which shareholders of Alphabet, Google’s parent company, allege that the company misled investors about the adequacy of the company’s security measures to protect user data from theft and security breaches. As discussed below, the new lawsuits bring together several securities litigation filing trends involving data and privacy-related issues.
via Google+ User Data Securities Lawsuits Filed Against Alphabet | The D&O Diary.