Data Breaches: Protecting Consumers From Financial Harm
Personal data is a precious commodity, and its security is vital to the privacy and financial well-being of internet users. Many companies have poorly defined and maintained security measures, leaving data vulnerable to attack and theft. Stolen data is a risk and damage to individuals, and companies with lax protocols should be accountable for their lapses.
At Edelson Lechtzin LLP, we have a long history of holding corporations responsible for their misconduct. In our view, no company is above accountability.
The Rising Cost of Data Breaches
According to IBM, there was a 12.7% increase in the average cost of data breaches between 2020 and 2022. Data breaches put consumers at risk for financial harm caused by:
- Identity theft
- Account Theft
Companies are required to take reasonable measures to protect customers and employees from data breaches, including safely storing information and alerting affected individuals of a breach in a timely manner. If these steps are not properly taken, the company should be held liable for financial losses incurred by affected individuals, including reimbursement for any financial harm caused by the data breach.
Current Data Breach Class Actions and Investigations
Our data breach litigation team constantly monitors new data breaches and investigates these matters so that we can act quickly in the event of a significant event. Our current data breach investigations and pending class action lawsuits include:
- Regal Medical Group: This breach impacted the medical information of clinics, hospitals and doctors’ offices across Southern California.
- TMX Finance Corporation: On April 5, we began investigating this breach regarding the financial information of nearly 5 million people.
- Independent Living Systems: This breach occurred between June 30 and July 5 of 2022 and impacted more than 4.2 million people.
When we learn about a new data breach, we speak with potentially impacted consumers and find out how the mishandling of their personal data has hurt them.
Talk To Us About Your Data
We want to hear from anyone impacted by a large data breach and their struggles in the aftermath. We offer free consultations and do not take a fee unless we can successfully recover for you.