A California federal court has dismissed a putative securities fraud class action alleging that a large title insurer that disclosed a data security incident in May 2019 made false and misleading statements related to its data security practices and the incident. The dismissal follows the June 2021 settlement of a related Securities & Exchange Commission […]
Cybersecurity
Biden Administration To Issue Cybersecurity “Performance Goals” For Critical Infrastructure
Yesterday, the Biden Administration issued a National Security Memorandum on Improving Cybersecurity for Critical Infrastructure Control Systems (“Memorandum”). A short summary is below. However, the primary take away is that the government will be establishing preliminary cybersecurity performance goals for certain industries no later than September 2021. While we do not yet know what these […]
Securities Class Actions Filed Against Three Chinese Tech Titans After Announcement of Cyber-Related Investigations
In early July, investigations by a Chinese cybersecurity regulatory agency, the Cyberspace Administration of China (“CAC”), into at least three China-based technology companies—DiDi Global Inc. (“DiDi”), Full Truck Alliance Co. Ltd. (“FTA”), and Kanzhun Limited (“Kanzhun”)—were purportedly revealed weeks after each conducted a substantial initial public offering (“IPO”) on a United States stock exchange. These […]
U.S. Government Launches StopRansomware.gov
On July 15, 2021, the DOJ and DHS together with additional federal partners launched StopRansomware.gov, a one-stop hub intended to help the private and public sector mitigate the threat of ransomware. The website includes a range of resources geared towards private organizations, public and private critical infrastructure sectors, K-12 educational institutions, and state, local, tribal, […]
Colorado Becomes the Third State to Adopt a General Privacy Law
On July 7, Colorado became the third state behind California and Virginia to adopt a comprehensive privacy law when Governor Jared Polis signed the Colorado Privacy Act into law. The CPA contains many similarities to the Virginia Consumer Data Protection Act (VCDPA) and the California Consumer Privacy Act, as amended by the California Privacy Rights […]