Credit: knssr/stock.adobe.com Evaluating the New Rules of Cybersecurity
The U.S. doesn't have a federal cybersecurity law, but that doesn't mean there is no cybersecurity industry standard. The combination of older regulations and guidance with new state statutes and federal guidelines provide a basket weave of compliance.
October 20, 2021 at 07:00 AM
5 minute read
Cybersecurity
The U.S. doesn't have a federal cybersecurity law, but that doesn't mean there is no cybersecurity industry standard. There are regulations, case law, guidelines and state laws that, when combined, create an industry standard applicable to almost all business sectors. Specifically, if you receive, collect or hold data in an enumerated industry or sector, your business must have an information security program in place.
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Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
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