More than 140 million American consumers had their personal information compromised as a consequence of a huge Equifax breach. Now lawsuits have started to appear and even more are expected.
The newest lawsuit was filed in Atlanta by a group of lawyer that includes the former Georgia Gov. Roy Barnes. The lawsuit claims Equifax caused harm and it presents two victims of the breach, Brian F. Spector and James McGonnigal. The last one ” recently had four credit accounts opened in his name without his authorization.”
According to the lawsuit, Equifax can be blamed for ” gargantuan failures to secure and safeguard consumers’ personally identifiable information … and for failing to provide timely, accurate and adequate notice ” and it also mentions the massive stock sale that took place just days after three executives learned about the breach.
Almost $1.8 million in stock was sold by Joseph Loughran, chief of U.S. information solutions business, Rodolfo Ploder, head of the workforce solutions operations and John Gamble, Chief Financial Officer.
The complaint also cites the fact that the company took more than a month before making the breach public and they were not able to disclose the reason why. The Atlanta lawsuit argues that the data breach “was the inevitable result of Equifax’s inadequate approach to data security and the protection ”
What does the lawsuit seek?
If the team of lawyers wins this case, Equifax will have to offer “more robust credit monitoring services with accompanying identity theft insurance ” as well as statutory damages and other compensatory damages. The company will also be forced to improve its data security measures in order to prevent any cyber theft in the future.
This lawsuit comes after a couple in Oregon had another one filed last week.