Investors File Data Breach-Related Securities Suit Against PayPal

Commentators (including me) have long speculated about the possible future direction of data breach-related litigation. There have of course been a number of very high profile data breach-related consumer class action suits, but so far relatively few data breach related D&O lawsuits. Of course, more recently investors filed a securities class action lawsuit involving the high-profile data breach at Equifax. Now investors have filed another data breach securities class action lawsuit, in this case involving PayPal Holdings.   Background The new PayPal data security related securities lawsuit involves developments at the company following its July 18, 2017 acquisition of bill-pay management company TIO Networks Corp.  In a November 10, 2017 press release (here), Pay Pal announced that to protect its customers, TIO had “suspended operations.” The press release said PayPal had discovered “security vulnerabilities on the TIO platform and issues…

Read more detail on Recent Corporate Law Department posts –

This entry was posted in Corporate Law and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply