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 Notification
Bill Proposes Jail Time for Executives Who Conceal Data Breaches
On November 30, 2017, a group of U.S. senators re-introduced a bill, known as the Data Security and Breach Notification Act, which seeks to impose criminal liability of up to five years of jail time on any corporate executive convicted of “intentionally and willfully” concealing a data breach. The bill also proposes that the Federal […]
Virginia Amends Data Breach Notification Law
Virginia amended the state’s data breach notification law, effective July 1, 2017, to expand notification requirements for employers and payroll service providers to data breaches that involve “unauthorized access and acquisition of unencrypted and unredacted computerized data containing a [Virginia] taxpayer’s identification number in combination with the income tax withheld for that taxpayer. . . […]
New York Attorney General Announces Record Number of Data Breach Notices in 2016
On March 21, 2017, New York Attorney General (NYAG) Eric T. Schneiderman announced that his office had received a record breaking 1,282 data breach notices to his office affecting 1.6 million New York residents during 2016. Compared to 2015, these figures represent a 60 percent increase in the number of notices and a 300 percent […]
Australia Adopts New Data Breach Notification Legislation
On February 13, 2017 Australia became one more among nation states adopting data breach notification legislation. In recent House and Senate votes, the Australian Parliament amended the Privacy Act 1988, introducing mandatory data breach notification requirements for entities regulated by the Privacy Act. Who is Subject to the New Legislation? The recent bill requires entities […]