cyber breach litigation

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.
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yahooI wouldn’t ordinarily write about the same company or set of circumstances two days in a row, but because of developments following in the wake of the data breaches Yahoo announced last year, the company’s name has come up again. Yesterday, I wrote about the investigation the SEC reportedly is pursuing in connection with Yahoo’s alleged delays in disclosing the data breaches. It turns out that yesterday a plaintiff shareholder also filed a securities class action lawsuit in the Northern District of California against Yahoo and certain of its directors and offices relating the company’s reported data breaches. A copy of the complaint the plaintiff filed on January 24, 2017 can be found here.
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