If you’ve been affected by the Equifax data breach, you may be wondering how to join the Equifax class action lawsuit. The recent lawsuit alleges that the credit-rating company misled consumers about its cybersecurity and compliance policies. Claims of a massive data breach date back to 2017. In the wake of the data breach, Equifax has defended itself with claims of compliance, cybersecurity, and the company’s role as a “trusted steward” of consumers’ personal information.
147 million people were affected by the Equifax data breach
The massive Equifax data breach was the largest ever reported, with the personal information of 147 million US citizens and fifteen-million UK residents compromised. The hackers gained access to credit card numbers and driving license information for as many as 147 million people. The Equifax data breach prompted several lawsuits and investigations. In response, the company agreed to give free credit monitoring to victims. This compromise, though, was never fully implemented, and the company has yet to notify all affected individuals.
The attackers may have targeted Equifax using a scanning tool and failed to realize the value of the information. Once they gained a foothold, they may have sold it to more experienced attackers who used the same techniques commonly associated with Chinese state-backed hackers. Ultimately, it is difficult to say if the hackers will pay anything. But if the attackers were truly interested in financial gain, they may have paid up to $80 per person to get access to their credit records.
Up to $70 billion in damages
The Equifax data breach has prompted a class-action lawsuit to be filed against the credit reporting company. The lawsuit is the largest of its kind in the United States, claiming that the company violated privacy laws and failed to protect consumer data. More than 143 million people have had their personal information exposed, causing the company to face massive lawsuits. The lawsuit also demands that the credit reporting company preserve all internal records related to the hack. The Equifax class action lawsuit seeks to compensate the victims with up to $70 billion in damages.
The fine print on the Equifax website has caused a lot of frustration among consumers. Even federal legislators and state attorneys general have denounced the company for forcing users to arbitrate disputes. Many people are worried that they could not even access the Equifax website if they were harmed by the data breach, and they are also concerned about having to agree to arbitration. Arbitration is a private proceeding, and consumer advocates consider it biased in favor of companies.
Claims of false statements by Equifax’s CEO
The Equifax data breach scandal prompted a class action suit alleging false and misleading statements by the company and its CEO. This lawsuit is based on the company’s public statements regarding cybersecurity, compliance, and internal controls. During the breach, Equifax touted its efforts to protect consumer data and claimed it was a “trusted steward of consumer information.”
The lawsuit alleged that Smith, the CEO of Equifax, made false statements about the company’s risk disclosures and internal controls. The Court found that the statements were false and that the terms of the merger agreement were applicable. However, the Court found that the terms of the merger agreement do not preclude the plaintiffs from filing their claim. While the lawsuit will have to go to trial, Smith’s claim against the company’s CEO could still be successful.
Steps to join Equifax class-action lawsuit
If you’ve suffered from identity theft due to the Equifax data breach, you should consider joining the class action lawsuit. By joining a class-action lawsuit, you give up your right to pursue separate legal claims and compensation. While a class action settlement isn’t the best option for every credit card user, it is certainly an option for some people. In this article, we’ll discuss the process of joining a class-action lawsuit and its benefits.
The data breach affected almost half of Americans, exposing tax ID numbers, issuance dates, and state license information. In response, Equifax agreed to settle with several consumer groups and the FTC, as well as 48 states, the District of Columbia, and Puerto Rico. The company will also cover the costs of a PR campaign that has garnered significant media coverage. The public relations campaign will be costly, and Equifax will be facing increased scrutiny.
Check your status as a class member
Whether you are an Equifax customer or not, you must check your status as a class member in the company’s data breach lawsuit. A data breach by Equifax exposed the personal information of 147 million American consumers. Equifax issued notices to affected consumers and has since confirmed their eligibility for settlement benefits. However, you must file your claim before 22 July 2020, or you will lose out on the benefits of the settlement.
In the case of Equifax, the company has agreed to pay $125 million to reimburse customers for their out-of-pocket losses. This settlement is contingent upon all affected Class Members signing up for credit monitoring services. The number of claims has not been released publicly, and the amount is still unknown. It depends on the number of claimants who file class-action lawsuits. This lawsuit will likely last for several years.