The Securities and Exchange Commission’s $35 million settlement with Altaba Inc., the successor in interest to Yahoo! Inc., is the first civil penalty of its kind for a data breach and underscores the agency’s increasing focus on public companies’ cybersecurity disclosure obligations. A cross-practice team from our Securities Litigation and Cybersecurity Preparedness & Response groups […]
Data Breach
Seventh Circuit Affirms Dismissal of Schnuck Markets Data Breach Lawsuit
The United States Court of Appeals for the Seventh Circuit recently affirmed the dismissal of a putative class action brought by financial institutions against Schnuck Markets, Inc., following a data breach impacting Schnuck beginning late 2012. The plaintiffs attempted to assert claims of negligence, negligence per se, various contract claims, and violation of Illinois consumer […]
SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
The Securities and Exchange Commission (SEC) issued a press release announcing its unanimous approval of a statement by SEC Chairman Jay Clayton and interpretive guidance (the “2018 Guidance”) to assist public companies in preparing disclosures about cybersecurity risks and incidents. This is the first interpretive guidance published by the full Commission on the topic of […]
Lenovo Wins Second Motion to Dismiss in Adware Class Action
By Jay Repko A California district court recently dismissed—for the second time—consumer claims that technology giant Lenovo Inc. violated New York’s Deceptive Acts and Practices Statute by selling laptops with preinstalled VisualDiscovery software that allegedly invades users’ privacy and exposes users to security breaches. In reaching this decision, Judge Haywood S. Gilliam, Jr. concluded that […]
Data Protection Litigation to Become a New Reality in Belgium
On November 16, 2017 the Belgian Senate adopted an “Act on the Establishment of the Data Protection Authority” (the “Act”). Following Austria, Germany, and the UK, Belgium is the fourth EU Member State to pass a domestic statute implementing the General Data Protection Regulation 2016/679 (“GDPR”) prior to its effective date of 25 May 2018. […]