News & Analysis as of

Data Breach

Former Equifax Chief Information Officer Charged With Insider Trading

by Murtha Cullina on

The Equifax data breach saga continues, this time with civil and criminal charges for insider trading lodged against Jun Ying, Equifax’s former Chief Information Officer of its U.S. Information Solutions business unit. The...more

Data Privacy + Cybersecurity Insider - March 2018 #3

by Robinson & Cole LLP on

Verizon's Protected Health Information Data Breach Report Concludes that Insiders Are Greatest Threat to Health Care Entities - Verizon recently issued its Protected Health Information Data Breach Report, which is always...more

Insider Trading Charges Brought Against CIO for Post-Breach Trading

by White and Williams LLP on

On March 14, 2018, the Securities and Exchange Commission (SEC) charged a chief information officer (CIO) for a US business division of Equifax with insider trading in advance of Equifax’s September 2017 disclosure of the...more

New York Settles EmblemHealth Breach for $575,000

The recent $575,000 settlement with EmblemHealth signals a push from AG Schneiderman “for stronger security laws and hold[ing] businesses accountable for protecting their customers’ personal data.” Noting New York’s “weak and...more

SEC Commissioners Provide Guidance On Cybersecurity Disclosures After Wave Of Record Incidents

by Orrick - Trust Anchor on

Much has been written about the SEC’s interpretive guidance on cybersecurity disclosures, issued in late February, including Commissioner Stein’s statement that it under-delivers for investors, public companies, and the...more

Health Care : Helpful Hints – March 2018

by Burr & Forman on

Alabama Data Breach Notification Act - On March 1, 2018, the Alabama Senate voted for passage of Senate Bill 318,the Alabama Data Breach Notification Act, by a vote of 24-0. The bill is now being considered by the Alabama...more

“Panama Papers” Law Firm Announces Its Closure Due to Fallout from Massive Data Breach

by Ballard Spahr LLP on

The beleaguered law firm at the center of the international Panama Papers scandal – Mossack Fonseca – has announced that it is closing its doors. It offered no apologies....more

News from Second & State

Weekly Wrap - It was back to the grind this week, as the House of Representatives convened in Harrisburg for three days of voting session. With budget hearings behind us and the budget deadline just about three months out,...more

Alert: SEC Issues New Guidance on Cybersecurity Disclosure and Policies

by Cooley LLP on

In February, the SEC announced that it had adopted long-awaited new guidance on cybersecurity disclosure. While the new guidance builds on Corp Fin's 2011 guidance on this topic, it carries more weight because it bears the...more

Tribute to Hawking: Black Holes Everywhere

by Thomas Fox on

Holmes was one of the most famous women to come out of Silicon Valley. She founded Theranos, hyped the fraudulent blood testing scam and became for a short time a billionaire. Now all of that is gone, gone, gone. ...more

GDPR Primer For Universities

WHY DOES IT MATTER? - Because the General Data Protection Regulation (GDPR) will hold universities much more accountable for the data they possess and use....more

What Investors Should Understand About Data Privacy & Security Risks & Opportunities – 5 Key Takeaways

by McGuireWoods LLP on

The next in our series of posts sharing key takeaways from panels at the Healthcare & Life Sciences Private Equity and Lending Conference focuses on data privacy and security. As data privacy and security risks...more

Congress Considers Legislation To Standardize Data Security And Breach Notification Regulatory Regime

by King & Spalding on

On Wednesday, March 7, the House Financial Services Committee (“HFSC”) considered two legislative proposals to streamline data breach notification laws. HFSC’s Subcommittee on Financial Institutions and Consumer Credit held a...more

SEC Commissioners Provide Guidance on Cybersecurity Disclosures After Wave of Record Incidents

The Commission's "new" cybersecurity guidance largely rehashes existing guidance, as is highlighted by objections from two commissioners. At most, the additional qualitative guidance is incremental. It reiterates the need to...more

A Primer on the SHIELD Act: New York’s Move to Adopt More Stringent Data Security Requirements, Part II

What would companies need to do to comply with the law? The Stop Hacks and Improve Electronic Data Security (SHIELD) Act imposes requirements in two areas: cybersecurity and data breach notification. The cybersecurity...more

The High Cost of Data Breaches: Six Examples From 2017

by Revision Legal on

Whether you are a small startup or a big company with a long and storied history, a data breach can be a legal and financial nightmare. There were over 850 cyberattacks and data breaches in 2017 alone, with the number and...more

Yahoo Enters $80 Million Securities Class Action Settlement After Data Breach

by Carlton Fields on

On March 2, Yahoo, Inc. (“Yahoo”) filed a proposed settlement in In re Yahoo Inc. Securities Litigation, which was filed in U.S. District Court in San Francisco. ...more

Gavel to Gavel: Data security starts before hiring

by GableGotwals on

Almost daily, we learn that yet another corporation has suffered a major data security breach, potentially exposing the private information of millions of people. However, it’s not always faceless, faraway hackers who are...more

Healthcare Business Owners—HIPAA Still Applies After Closing Down Your Business

by Farrell Fritz, P.C. on

Filefax, Inc. (“Filefax”), an Illinois company that intimately handled sensitive Personal Health Information (“PHI”), paid $100,000 to the Department of Health and Human Services (“HHS”) to settle potential violations of the...more

Data Breach Class Action Dismissal Shows Two Grounds for Dismissing Data Breach Cases

by Faegre Baker Daniels on

On March 7, 2018, the United States District Court for the District of Minnesota dismissed a putative data breach class action against SuperValu, Inc., because the plaintiffs did not have standing and could not state claims...more

Colorado Legislature Signals That It May Create More Stringent Data Destruction Regulations and Tighten Breach Reporting...

by BakerHostetler on

In January 2018, Colorado legislators sponsored a bill that, if passed, will change the state’s existing data breach reporting laws in important ways. A House Committee Report detailing the current version of the bill can be...more

The Standing Struggle in Data Breach Litigation Continues

by Murtha Cullina on

Two courts. Two days. Two different results. On March 7, on remand from the U.S. Court of Appeals for the Eighth Circuit, a federal district court judge in Minnesota granted a motion to dismiss a consumer class action suit...more

Monday Briefing: Hacks, Public Companies and the SEC

With the U.S. Securities and Exchange Commission’s updated cybersecurity guidance hot off the press, let’s start the week by taking a look at public company cyberattack reporting statistics....more

GDPR's Most Frequently Asked Questions: Does the GDPR require that I hire an external forensic investigator if I suspect a data...

by Bryan Cave on

The European Union’s General Data Protection Regulation (“GDPR”) is arguably the most comprehensive – and complex – data privacy regulation in the world. As companies prepare for the GDPR to go into force on May 25, 2018,...more

Data Protection Impact Assessment

by Ladas & Parry LLP on

Article 35 of the GDPR provides for Data Protection Impact Assessments (DPIA). According to Article 35(1) a DPIA is required when “the processing [of data] is likely to result in a high risk to the rights and freedoms of...more

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