Equifax data leak: More than 30 lawsuits filed in US over massive hack

The credit reporting company said thieves may have stolen personal information for 143 million Americans in one of the largest hackings ever

Credit monitoring company Equifax says a breach exposed social security numbers and other data
Credit monitoring company Equifax says a breach exposed social security numbers and other data

More than 30 lawsuits have been filed in the United States against Equifax after the credit reporting company said thieves may have stolen personal information for 143 million Americans in one of the largest hackings ever.

At least 25 lawsuits had been filed in federal courts by Sunday, including at least one accusing the company of securities fraud, court records show.

Several more lawsuits were filed against Equifax on Monday. Many of those raising similar claims will likely be combined into a single, nationwide case.

​Equifax disclosed the breach on Thursday, and said it learned of the hacking on 29 July. It has set up procedures that it says are intended to help people protect their Social Security numbers and other identifying information.

Some lawsuits criticised Equifax’s offer of a year of free credit monitoring with its TrustedID product.

One complaint filed in San Jose, California, suggested that Equifax might do this to lay a “foundation” to pitch costlier services. It cited a 22 February regulatory filing in which Atlanta-based Equifax said more companies are offering free or low-cost services such as credit scores, reports and monitoring “as a means to introduce consumers to premium products and services.”

In the securities fraud lawsuit, Equifax was accused of misleading shareholders about its ability to protect consumer data, inflating its financial statements and share price before the truth became known.

The case was filed on Friday in federal court in Atlanta by the law firm Levi & Korsinsky, which provided a copy of the complaint. A copy could not immediately be located in court records.

Equifax’s share price closed down $10.11, or 8.2 per cent, at $113.12 on Monday. It has fallen 20.7 per cent in the two trading days since the 7 September disclosure of the breach, reducing Equifax’s market value by more than $3.5bn.

Reuters

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in