From Reuters:
Damages from the Equifax data breach could destroy the company, says technology lawyer Mark Grossman. Fred Katayama reports.
Equifax in hot water since it disclosed that personal information of 143 million Americans was stolen from its database. Massachussets sued the credit reporting company Tuesday, and Equifax said its data breach might affect about 100,000 Canadians. Federal authorities have opened a criminal investigation into the breach. Nearly forty states have joined a probe. Bloomberg reported the feds are also looking into stock sales by Equifax executives. Congress has gotten involved too. Equifax' chief executive, Richard Smith, will testify on Capitol Hill on October 3rd. Technology lawyer Mark Grossman says Equifax will most likely file for bankruptcy....MORE, including video.
"We're looking at damages in excess of $20 billion when the lawsuits begin to fly..."
