News & Analysis as of


Former Equifax Exec Charged with Insider Trading: Underscores Need for Trading Halt Plans

The Equifax hack has taken another twist – one that raises questions that every public company should consider....more

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

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

Your Daily Dose of Financial News

by Robins Kaplan LLP on

There’s falling from grace, and then there’s Elizabeth Holmes. Once compared glowingly to Steve Jobs, Holmes’ well-documented Theranos ills (including exaggerated and faked blood-test results) have landed her with SEC...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

The Equifax Breach Continues to Rage

Six months after a massive data breach at credit reporting company Equifax, Inc. handed hackers the personal information of nearly 150 million Americans, the fallout continues. Equifax first disclosed in September that...more

OR, NY, AL, and RI considering data breach legislation post-Equifax

by Ballard Spahr LLP on

In the absence of federal action, state legislators continue to propose bills that would increase data privacy and security protections for consumers. Any entity that does business in these states or maintains confidential...more

Oregon, New York, Alabama, and Rhode Island Join List of States Considering Data Breach Legislation Post-Equifax

by Ballard Spahr LLP on

Any entity that does business in these states or maintains confidential information of their residents should monitor the proposed data breach legislation discussed below: Oregon, New York, Alabama, and Rhode Island....more

ICYMI in Cybersecurity and Data Breach

by Davis Wright Tremaine LLP on

Group Makes $50 Million by Phishing Bitcoin Users Using Google AdWords - reports that cybercriminals use traditional phishing techniques to steal Bitcoin, but drive traffic to their phishing sites...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As we hold our breaths at the opening bell to see if last week’s volatility continues, we consider the impact of computer-driven index funds on that market rollercoaster....more

ICYMI in Cybersecurity and Data Breach

by Davis Wright Tremaine LLP on

Exclusive: U.S. Consumer Protection Official Puts Equifax Probe on Ice – Sources - On Monday, Reuters reported that, “Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe...more

Mnuchin to discuss Equifax data breach with FSOC

by Ballard Spahr LLP on

Appearing before the House Financial Services Committee Tuesday at a hearing entitled “The Annual Report of the Financial Stability Oversight Council” (FSOC), Treasury Secretary Mnuchin indicated that he intends to discuss...more

CFPB reportedly puts investigation of Equifax on ice while other government agencies press forward

by Ballard Spahr LLP on

Equifax announced on September 7, 2017 a massive data breach affecting an estimated 143 million consumers. Richard Cordray, the then Director of the CFPB, shortly thereafter authorized an investigation according to several...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A look at the big-time Wells Fargo/Fed settlement of last Friday night, which saw the Fed blasting the bank’s board for oversight failures, forcing Wells to replace a full fourth of its 16-member Board, and instituting a rare...more

Privacy Perils: The Least Wonderful Time of the Year

by Bass, Berry & Sims PLC on

January 29 was the first day that tax returns could be filed for tax year 2017. The IRS expects approximately 90% of returns this year to be filed electronically, and overall 70% of taxpayers should receive a tax refund,...more

2017 Year in Review: Data Breaches

The year 2017 saw the number of data breaches grow, and the trend is expected to continue and intensify. From Yahoo’s announcement that three billion of its user accounts were compromised to the Equifax breach and resulting...more

Equifax Must Turn Over NY Breach Data This Week

New York State regulators won’t be letting Equifax, Inc. off-the-hook any time soon for last year’s massive data breach that affected more than 145 million Americans....more

MDL Litigation: Class and Complex Cases to Watch in 2018

by Carlton Fields on

The Judicial Panel for Multidistrict Litigation (“MDL Panel” or “Panel”) has transferred 97 putative class actions relating to the Equifax data breach to the Northern District of Georgia, where Equifax is headquartered. Judge...more

Cybersecurity Risks to Employee Benefit Plans - Are You Prepared?

by Foley & Lardner LLP on

Unless you’ve been living on a remote mountaintop or inside a cave for the past 10 years, chances are good you’ve either been affected by a cybersecurity breach or know someone who has. Among many other businesses, recent...more

Cyber Criminals Take Uber for a Ride

by Nutter McClennen & Fish LLP on

The near-daily reports of massive hacking incidents continue to demonstrate a shocking level of corporate incompetence. In September, we learned of the Equifax breach, which was breathtaking both in its scope and in Equifax’s...more

ACSC Releases Report on Cybersecurity Post Equifax Breach

This week, the Advanced Cyber Security Center (ACSC) released a new report entitled, “Cyber Security Post Equifax: Perceptions and Priorities from Massachusetts Residents.” The report highlights the results from a survey of...more

Equifax Lax About Hacks, Says Shareholder Lawsuit

by Locke Lord LLP on

In early September, Equifax disclosed a now well-known data breach that ultimately affected a reported 146 million customers in the United States. The breach allegedly occurred in May 2017, as a result of an online security...more

‘Scandals spawn hashtags and disasters breed domain names’. EQUIFAX DOMAINS…PART TWO

A few weeks ago, we reported that Equifax was successful in wresting over 125 domain names from squatters who were hoping to cash in on the publicity behind the Equifax security breach. For those that have been in a sensory...more

The Ten Arbitration Trends Of 2017

2017 was a big year in arbitration law. We went from a country that seemed on the verge of banning arbitration in most consumer and employee contracts to a country whose federal policy embraces arbitration in nearly every...more

Senators Re-Introduce Bill Requiring 30-Day Notification of Company Data Breaches

As we near the end of a year that has seen more than its share of massive data breaches, two bills have been introduced (one re-introduced) in the U.S. Senate....more

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