News & Analysis as of

Fiduciary Duty Cyber Crimes

Amundsen Davis LLC

Is Nothing Sacred? Cyberattacks May Impact Director and Officer Fiduciary Duties

Amundsen Davis LLC on

MGM Resorts is the latest victim of a cyberattack occurring on September 10th, which has set back the gambling and leisure giant substantially, both in terms of business function and income. MGM is not alone. Household names...more

Lowenstein Sandler LLP

SEC Releases 2023 Examination Priorities for Registered Investment Advisers and Broker-Dealers

Lowenstein Sandler LLP on

On February 7, 2023, the U.S. Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) released its annual Priorities Report1 for upcoming examinations of registered investment advisers...more

Proskauer - Minding Your Business

A New Gateway Opens – More English Court Options for Victims of Overseas Fraud

Recent rule changes allow claimants full access to key English law mechanisms to discover the identity of defendants and location of assets, even where the wrongdoers and third parties are not based in England. This is highly...more

Groom Law Group, Chartered

Cybersecurity Requests Appear in DOL Audits

Plan sponsors, fiduciaries, and service providers are being asked by DOL investigators how their ERISA governed plans address cybersecurity concerns with increasing frequency. These requests may take the form of production...more

Williams Mullen

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

Williams Mullen on

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

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

Theft through cyber crime will be a bigger thing

Theft by plan fiduciaries does happen and it’s not hard to find out who did it....more

Seyfarth Shaw LLP

Fiduciary Duties With Respect To Trade Secrets For Dual Or Multiple Directors

Seyfarth Shaw LLP on

The purpose of this short paper is to ‘join the dots’ between a director’s fiduciary duties and especially a person holding dual or multiple directorships and trade secrets....more

Jones Day

Data Breach Risks for 401(k) and Retirement Plans

Jones Day on

There has been a recent spike in attacks on 401(k) and retirement plans by cyber criminals. Some have been reported publicly, and we are aware of several nonpublic incidents as well....more

Robinson+Cole Data Privacy + Security Insider

Yahoo Data Breach Update: A Third Notification + Shareholders Sue

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

Akerman LLP - Health Law Rx

Evolving Litigation of Data Breach Claims

An Illinois circuit court judge has dismissed five of six claims in a consolidated class action against Advocate Health and Hospital Corporation arising from a data breach in July 2013. The judge’s dismissal with prejudice...more

Bilzin Sumberg

Legal Insights on the Ashley Madison Hack: Part I

Bilzin Sumberg on

Internet commenters and legal analysts alike are buzzing about the Ashley Madison hack. The website -- which billed itself as a networking site for anyone who wanted to discretely arrange an extramarital affair -- has already...more

Carlton Fields

A Firewall for the Boardroom: Best Practices to Insulate Directors and Officers From Derivative Lawsuits and Related Regulatory...

Carlton Fields on

Shortly after the massive 2013 Target data breach, shareholders filed four derivative lawsuits against the company’s directors and some of its officers (13 CARE 624, 3/20/15). The shareholders alleged that the defendants had...more

Carlton Fields

Checking in on Target’s Derivative Litigation: 18 Months Later, Directors Remain Stuck in the Checkout Line

Carlton Fields on

Everyone remembers the Target Corporation data breach, one of the worst in history. In late 2013, hackers forced their way into Target’s computer system, accessing the information of approximately 70 million customers,...more

Jackson Walker

Enterprise Data Security For The Securities Lawyer

Jackson Walker on

Assuring cybersecurity has become a necessity for businesses across all industries. Cybercrime — with over $1 trillion in annual profits — is now the most lucrative illegal global business. Any business with computers and...more

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