Economy

San Francisco Sues Equifax Over Massive Data Breach

San Francisco Sues Equifax Over Massive Data Breach”

Equifax Inc said on Tuesday its Chief Executive Officer Richard Smith will retire following a massive data breach at the credit reporting firm that exposed personal details of up to 143 million USA consumers. The chief information officer and chief security officer left the company on September 14.

Meanwhile, the city of San Francisco has filed a lawsuit against Equifax on behalf of the state of California. It seeks tens of millions of dollars in civil penalties as well as restitution for some consumers. City Attorney Dennis Herrera hit Equifax over its "incompetence", saying the company was "asleep at the switch and upended the lives of millions of people".

This is not the first suit filed against Equifax - as the Associated Press reports, the state of MA has already filed its own suit.

San Francisco became the first city to sue Equifax (EFX) over the data breach that potentially engulfed 143 million people in the U.S. Despite resigning, Smith will be compelled to front Congress and explain how the cyber-breach occurred, what, if any, electronic safeguards the company had in place, and what it plans to do besides offering free credit monitoring and identity theft protection. Equifax disclosed earlier this month that hackers had access to its systems between mid-May and July, in one of the largest data breaches in the United States.

Richard "Rick" Smith of Equifax.



Like this

loading...
loading...

Latest


28 September 2017
National Oilwell Varco, Inc. (NOV) Stock in the Investor Spotlight
Kentucky Retirement Systems acquired a new position in National-Oilwell Varco during the fourth quarter worth about $1,026,000. It worsened, as 82 investors sold NOV shares while 216 reduced holdings. 35 funds opened positions while 32 raised stakes.

28 September 2017
What the Insider Data Suggests About The Walt Disney Company (DIS)
Shares of Kellogg Company (NYSE:K) traded down -0.95% in the last session while performance was up 63.42% in the last five days. The entertainment giant posted $1.58 Earnings per share for the period, beating analysts' average forecasts of $1.53 by $0.05.

28 September 2017
Michelle Williams in Talks to Join Tom Hardy in 'Venom'
This marks another fantastical big-budget film for Williams as she has starred in Oz the Great and Powerful . According to Variety , Williams is playing a district attorney and potential love interest to Hardy's Brock.

28 September 2017
Says 'All Options Are On The Table' With North Korea
North Korea's global financial representatives based in China, Russia, Libya and the United Arab Emirates are also included on the sanctions list.

28 September 2017
Agnico Eagle Mines Ltd (USA) (AEM) Analysts See $0.12 EPS
It is positive, as 68 investors sold SBUX shares while 409 reduced holdings. 93 funds opened positions while 362 raised stakes. ValuEngine raised Agnico Eagle Mines Limited from a "sell" rating to a "hold" rating in a report on Friday, September 1st.

28 September 2017
American Express Company (NYSE:AXP) Achieve New Highs
The stock of Chesapeake Lodging Trust (NYSE:CHSP) has "Sell" rating given on Tuesday, January 19 by Ladenburg Thalmann. Heartland Advisors Inc increased Firstcash Inc stake by 28,844 shares to 274,659 valued at $16.01 million in 2017Q2.

28 September 2017
TEGNA (NYSE:TGNA) Getting Somewhat Favorable Media Coverage, Analysis Finds
Jefferies reissued a "hold" recommendation and fixed a $16.00 target price on stock of TEGNA in a note on Thurs, Jun 1st. BidaskClub cut shares of TEGNA from a "hold" rating to a "sell" rating in a research report on Tuesday, September 12th.

27 September 2017
Hudbay Minerals Inc (HBM) Insider Purchases C$164688.00 in Stock
Hillsdale Investment Management Inc. owned about 0.16% of HudBay Minerals worth $2,264,000 at the end of the most recent quarter. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 175.625 and a beta of 3.28.

27 September 2017
At least 4 hospitalized after 2 buses crash in San Francisco
Four people were sent to the hospital after two AC Transit buses crashed in SoMa Wednesday morning, San Francisco police say. The green AC Transit bus crashed into the rear of another AC Transit bus making a turn onto northbound Fremont.

27 September 2017
Marathon Patent Grou (MARA) Ended after Adding 22.42%
The stock go down so far this year; showing a decline of -72.38% and added with positive flow of 38.81% during recent week. The total number of shares traded in the last 12 months is 419,482. (DHT) is dropping with a downward movement of -12.80%.