Personally Identifiable Information

Appropriate cybersecurity disclosures can reduce risk of class action securities cases following a data breach.  We have written recently on the rise of these class action securities cases, including the Intel case and the Yahoo! $80 million settlement.  We have also been closely watching the Equifax case.  The recently
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If you haven’t been closely following, you may be of the mistaken view that without evidence of actual harm, consumer plaintiffs in federal cyber breach cases have no standing.  While that may have been roughly correct in 2016, the story in 2018 is more complicated, and getting better for plaintiffs.
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Regulators in almost every U.S. state have the authority to enforce cybersecurity compliance under their state’s laws, but until recently, they have rarely exercised this power, leaving enforcement mostly to federal agencies like the FTC.  With the recent Equifax breach, this appears to be changing.

The Massachusetts Attorney General filed
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We have issued a memo on recent proposed cybersecurity regulations by the New York State Department of Financial Services that would be more stringent than existing federal requirements for certain financial entities. The memo highlights similarities and differences between the proposed regulations and federal regulations and guidance.

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