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Cybersecurity › Breach of Duty

Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Robinson+Cole Data Privacy + Security Insider

David’s Bridal Hit with Class Actions Over Two Data Breaches

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This week, two class actions were filed in the U.S. District Court for the Eastern District of Pennsylvania against David’s Bridal based on two data breaches. The actions allege that David’s Bridal failed to protect the...more

A&O Shearman

Chief information Security Officers and cyber whistleblowing: considerations for boards and breach response teams

A&O Shearman on

At this point, it is self-evident that companies are grappling with an ever-evolving (think: tougher) cyber risk terrain. However, two recent cases against companies and their Chief Information Security Officers (CISOs),...more

Mintz - Privacy & Cybersecurity Viewpoints

Preparation for 2022 Fiscal Year-End SEC Filings and 2023 Annual Shareholder Meetings

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Public companies initiating the year-end reporting process will need to consider, and in many cases take steps to address, a number of significant developments and issues. To assist companies in this process, Mintz has...more

Proskauer on Privacy

SolarWinds: A Lesson on How Companies Victimized by Data Breaches Can Quickly Become the Target of Litigation and Regulatory...

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In 2020, SolarWinds Corp., a company that provided information technology software to private and government entities, was the victim of a cybersecurity breach. Russian hackers are believed to have slipped malicious code...more

Dechert LLP

Dechert Cyber Bits - Issue 21

Dechert LLP on

US Federal Appellate Court Issues Opinion on Proof of Injury in Data Breach Cases - On September 2, 2022, the U.S. Court of Appeals for the Third Circuit reinstated a class action lawsuit that had previously been dismissed...more

Genova Burns LLC

Potential Harm Enough For Class Action to Proceed in Data Breach Litigation

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The Third Circuit Court of Appeals has given new life to a putative class action suit led by a former employee of a company that suffered a ransomware attack, leading to her sensitive information being released onto the Dark...more

Hogan Lovells

Firemen’s Ret. Sys. of St. Louis v. Sorenson: No Caremark liability for data breach - Quarterly Corporate / M&A Decisions update...

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In Firemen’s Ret. Sys. of St. Louis v. Sorenson, C.A. No. 2019-0965-LWW (Del. Ch. Oct. 5, 2021), the Delaware Court of Chancery dismissed a derivative lawsuit against Marriott executives and directors for breaches of the duty...more

Skadden, Arps, Slate, Meagher & Flom LLP

The Risk of Overlooking Oversight: Recent Caremark Decisions From the Court of Chancery Indicate Closer Judicial Scrutiny and...

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In 1996, the Delaware Court of Chancery issued its seminal decision in In re Caremark International Inc. Derivative Litigation, establishing the conditions for director oversight liability under Delaware law. Adopted a decade...more

Benesch

Shareholders Seek to Hold Current and Former SolarWinds Officials Liable for Massive 2020 Security Breach

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Investors filed a derivative suit claiming that the company knew about, and failed to mitigate known, existing cybersecurity risks and shortfalls prior to the security breach. In early November, pension funds and...more

Goodwin

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence

Goodwin on

SCOTUS Vacates Class Certification In Suit Against Goldman Sachs And Clarifies Appropriate Scope Of Price Impact Evidence; Stockholders Strike $110 Million Settlement In Suit Alleging Breaches Of Fiduciary Duties By Former...more

Oberheiden P.C.

10 Reasons to Hire a Corporate Private Investigator

Oberheiden P.C. on

Corporate investigations can serve a variety of different purposes. From uncovering accounting fraud to responding to cybersecurity breaches and preparing for litigation, there are various circumstances in which corporate...more

Groom Law Group, Chartered

Cybertheft Lawsuit: Court Dismisses Fiduciary Breach Claims Against Plan Sponsor for a Second Time

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On February 8, 2021, in the latest turn in the saga of a closely-watched ERISA cybersecurity lawsuit, the Northern District of Illinois again dismissed fiduciary breach claims against Abbott Laboratories (“Abbott Labs”)...more

Proskauer - Minding Your Business

Shareholder Seeks Second Look At Company Data Security Practices

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On November 25, 2020, a shareholder of First American Financial Corporation (“First American”) filed suit against the company and its officers and directors over a massive data security breach that exposed hundreds of...more

Groom Law Group, Chartered

Cybertheft Lawsuit: ERISA Fiduciary Breach Claims Dismissed Against Plan Sponsor but Move Forward Against Recordkeeper

Groom Law Group, Chartered on

On October 2, 2020, the Northern District of Illinois ruled on motions to dismiss in a closely-watched cybertheft lawsuit arising out of the theft of $245,000 from a participant’s account in the Abbott Laboratories Stock...more

Williams Mullen

PODCAST: Williams Mullen's Benefits Companion - Cybersecurity Considerations for Retirement Plan Sponsors

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On the latest episode of Williams Mullen's Benefits Companion, host Brydon DeWitt is joined by Nichole Labott, managing director at SageView Advisory Group, to discuss the importance of proper cybersecurity for retirement...more

Patterson Belknap Webb & Tyler LLP

Directors and Officers Settle Over Yahoo Hack: A New Chapter in Derivative Litigation?

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Yesterday, a Superior Court judge in Santa Clara, California approved what is believed to be the first monetary award to a company in a data breach-related derivative lawsuit....more

Womble Bond Dickinson

Lawsuit Alert: New State Law Affirmative Duty to Safeguard Personal Data

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Now a business that was hacked may be successfully sued under state common law by data subjects whose information was compromised in the crime. For the first time, a state supreme court has held that a company that was...more

Fisher Phillips

Data Breach Liability for Pennsylvania Employers Expands – Pennsylvania Supreme Court Holds that Employers Have a Duty of Care to...

Fisher Phillips on

Data breach liability for Pennsylvania employers of all sizes expanded with a recent Pennsylvania Supreme Court decision in Dittman v. UPMC. __ A.3d __, No. 43 WAP 2017, 2018 WL 6072199 (Pa. 2018). The Pennsylvania Supreme...more

Fenwick & West LLP

Pennsylvania High Court’s Dittman Ruling Makes It Harder To Dismiss Data Breach Actions

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The Pennsylvania Supreme Court recently held that employers have “a legal duty to safeguard” the personal data of their employees which is stored on internet-accessible computer systems and that the economic loss doctrine...more

Zuckerman Spaeder LLP

Gone Phishing: Employer Faces Liability for Mistakenly Disclosing W-2 Forms to Scammer

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Phishing. Spoofing. - These words may sound silly, but for employers, they are anything but. Phishing is the attempt to obtain sensitive electronic information—such as usernames, passwords, or financial...more

Akin Gump Strauss Hauer & Feld LLP

Big Data and the Risks of Insider Trading

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In the perennial quest for alpha, investment managers have turned increasingly to big and alternative data for market insights. The most prominent consumers of this data on Wall Street are managers of ‘‘quant’’ funds, which...more

Robinson+Cole Data Privacy + Security Insider

Home Depot Agrees to Settle Data Breach Shareholders’ Suit

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In a surprise move late last week, Home Depot has agreed to settle a shareholders derivative suit filed against current and former members of the Board of Directors and the Chief Executive Officer and Chief Information...more

Mintz - Privacy & Cybersecurity Viewpoints

Appeal in Home Depot Data Breach Derivative Action Results in Settlement of Corporate Governance Claims

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Snatching victory of a sort from the jaws of defeat, shareholders who brought a derivative action alleging that the 2014 Home Depot data breach resulted from officers’ and directors’ breaches of fiduciary duties have reached...more

Robinson+Cole Data Privacy + Security Insider

Yahoo Data Breach Update: A Third Notification + Shareholders Sue

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Last week, Yahoo issued another warning to some of its customers telling them that their personal information may have been compromised in a data breach. This is the third notification to Yahoo users that their information...more

K&L Gates LLP

Health Care Institutions

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Originally published in Haig, Business and Commercial Litigation in Federal Courts, Fourth Edition §§ 87:1 et seq. © 2016 American Bar Association. This chapter discusses federal court litigation relating to health care...more

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