Does it feel like data breaches are growing more and more common? They
are. In fact, more sensitive data is being stolen now than ever before,
placing more and more people at risk for identity fraud. The biggest reason
for these breaches? Retailers are increasingly working towards online
sales, which means more sensitive data is being transferred and stored
in different locations for payment processing. That means these companies
have a duty to do everything in their power to protect this sensitive
information from being stolen. However, not all companies do what they
need to. As a result, a number of data breach class-action lawsuits have
been filed. Let’s take a look at just three of the most recent examples.
The Equifax breach is the most recent one on the list, and likely the one
that will be remembered for years to come. The credit monitoring giant
announced the breach on September 7th, indicating that the names, social security numbers, birth dates, addresses,
and even driver’s license numbers for up to 143 million people were
accessed without authorization between mid-May and July of 2017. The credit
card numbers of approximately 209,000 consumers were accessed.
Equifax is a massive credit-monitoring company, so the fact that so much
information was stolen makes this breach truly mind-boggling. The consequences
will likely be felt for the next several years as consumers find themselves
subject to identity fraud attempts and more. However, lawsuits are in
progress which will likely lead to a substantial payout to victims.
In December, 2016, Yahoo announced that the information for more than one
billion users had been stolen in August 2013, and just a few months prior
they had announced that 500 million users had their data stolen in 2014.
The info stolen included names, email addresses, dates of birth, phone
numbers, and passwords. While this may not seem as substantial as credit
information stolen from Equifax, it’s important to remember how
much sensitive information people keep in their email accounts, which
may have been compromised through this hack. To date, the class-action
lawsuit against Yahoo is the largest class action suit in history.
Earlier this year, the largest insurance company in America, Anthem Inc.,
agreed to a $115 million settlement after they suffered a data breach
that jeopardized the information for more than 80 million customers. While
this settlement is still in the process of being reviewed by a California
judge, it would become the largest data breach settlement in history if approved.
If you have had your data breached and would are considering a class-action
lawsuit against those at fault,
call a Dallas commercial litigation attorney from Golomb & Honik, P.C. at (215) 278-4449!