Equifax Data Breach-Related Securities Suit Dismissal Motion Denied in Part, Granted in Part

During 2017 and 2018, plaintiffs’ lawyers filed a number of securities class action lawsuits against companies that had experienced data breaches. Among the highest profile of these cases was the securities lawsuit filed in 2017 against the credit rating firm, Equifax, which in September 2017 announced that hackers had breached its consumer database and accessed millions of records containing personally identifiable information. On January 28, 2019, in a ruling that will be closely analyzed in connection with the several other recently filed data breach-related securities lawsuits, Northern District of Georgia Judge Thomas W. Thrash, Jr. entered an order granting in part and denying in part the defendants’ motion to dismiss. A copy of the January 28 order can be found here.   Background On September 7, 2017, Equifax announced a “cybersecurity incident” potential impacting 143 million U.S. customers. The company’s press release stated that…

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