Tag: Data breach

FTX, BlockFi Customer Details Compromised Due to Kroll Data Hack

Customer data of bankrupt crypto exchange FTX and lender BlockFi have been compromised due to a hack of Kroll, a third party agent that manages creditor claims on behalf of bankrupt companies. Crypto account passwords and other sensitive data weren’t affected, but customers were warned to be on the lookout for scammers impersonating parties in the bankruptcy. Source: FTX, BlockFi…

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Payments Company Hit With Data Breach-Related Securities Suit | The D&O Diary

The payment technology firm Block, Inc. (formerly known as Square) has been hit with a securities class action lawsuit related to the company’s announcement earlier this year that a former employee had improperly accessed and downloaded company customer data. The new lawsuit is the latest example of the ways in which data security incidents can translate into D&O claims. Source:…

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Zendesk Hit with Data Breach-Related Securities Suit | The D&O Diary

In the latest example of a securities class action lawsuit arising out of data breach or other cybersecurity incident, on October 24, 2019, a plaintiff shareholder filed a securities class action lawsuit against California-based software company Zendesk. The lawsuit follows after the company announced disappointing second quarter financial results in July and then announced in early October that customer account…

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Some Good News for the Cybersecurity Class Action Bar | LinkedIn

The cybersecurity class action bar might be celebrating the holidays a bit early this year. The enthusiasm stems from a recent (but barely noticed) judicial letter from Judge Paul W. Grimm, of the United States Federal District Court for the District of Maryland, who oversees class action litigation arising out of last year’s data breach of Marriott’s Starwood guest reservation…

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With Plenty of Plaintiffs, Lawyers Flood the Courts Over Marriott’s Massive Breach | Law.com

Lawyers rushed to bring about a dozen class actions over Marriott’s data breach—and with about 500 million people potentially impacted, they didn’t have to go far to find a plaintiff. “There are so many people that have been potentially compromised, which means basically people could trip over a plaintiff if they just walk outside,” said Amy Keller, who filed one…

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Google+ User Data Securities Lawsuits Filed Against Alphabet | The D&O Diary

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…

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Ten Questions the SEC Probably Has for Google | LinkedIn

What a mess. Let the onslaught of scrutiny begin, which in my opinion will undoubtedly include an investigation by the U.S. Securities and Exchange Commission (SEC), the federal regulator tasked with policing the disclosures to shareholders by public companies like Google. But what precisely will the SEC want to know?  Assuming I am right about an ongoing SEC investigation, this…

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Altaba, Formerly Known as Yahoo!, Charged With Failing to Disclose Massive Cybersecurity Breach; Agrees To Pay $35 Million — SEC Press Release

The Securities and Exchange Commission today announced that the entity formerly known as Yahoo! Inc. has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world’s largest data breaches in which hackers stole personal data relating to hundreds of millions of user accounts. via SEC.gov | Altaba, Formerly…

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