Cited as one of the largest incidents of its kind in history,
the recent Equifax data breach underscores that every business and
individual is vulnerable to theft of sensitive information by
unscrupulous hackers. In less than a week following its
announcement of the data breach, Equifax was already the subject of
dozens of class action lawsuits filed around the country by
consumers and shareholders. More lawsuits are likely on the
horizon, along with investigations by state and federal regulators.
In fact, the high-profile nature of the breach has caused some
lawmakers to reconsider the need for new federal legislation for
cybersecurity standards and breach notification laws. To make
matters worse, widespread media reports may be tarnishing the
company's reputation, its stock price has experienced a
precipitous drop, and its chief information and security officer
has reportedly retired. The potential adverse legal and financial
consequences and reputational risk t
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