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The breach led to a record settlement with the FTC, a dramatic downgrade in Equifax’s own credit rating, and close to $3 billion in expenses for the company as it restructured both its C-suite ...
Equifax discovered the breach end of July, but did not disclose it to the public until September 2017. In a settlement with the United States Federal Trade Commission, Equifax offered affected users settlement funds and free credit monitoring.
Equifax will pay at least $700 million — and potentially much more — to settle lawsuits over a 2017 data breach that exposed the Social Security numbers and similar sensitive information of ...
Equifax software engineer Sudhakar Reddy was charged with insider trading for purchasing options prior to the disclosure of the 2017 data breach. [86] [87] In January 2020, Equifax agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. states and territories.
[1] [2] He served as the chairman and CEO of Equifax from 2005 to 2017, when he retired in the wake of the data breach of approximately 145.5 million customers. [2] [3] Because Smith retired instead of getting fired, he is expected to receive $90 million, including performance-based unvested stocks and $18.5 in retirement benefits, according to ...
Equifax will pay up to $700M to settle with the U.S. and states over a 2017 data breach that exposed Social Security numbers and other private information.
Law360 notes that Eric played a key role in negotiating a $115 million with Anthem, a record settlement in a data breach case. [6] Eric noted that the Anthem medical data breach was a tricky case because data breach litigation was still in its infancy and there was not much precedent to draw upon. [6] "With data breach cases in particular, a ...