Investors Jumping Into Legal Fray Over Equifax Data Breach
Investors allege that the agency failed to protect its data systems and thus made false statements in recent financial statements about the soundness of its cybersecurity.
September 19, 2017 at 09:46 AM
4 minute read
Among the lawsuits piling up against Equifax Inc. stemming from the massive data breach that put approximately 143 million consumers' data at risk are proposed class actions filed by investors who say the credit reporting agency broke securities laws.
Investors, who have filed suits in federal court in New York and Georgia, allege that the agency failed to protect its data systems and thus made false statements in recent financial statements about the soundness of its cybersecurity.
Investors say that the Equifax's misinformation artificially inflated its stock price.
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