Today, security is top of mind for many in the legal profession. The EU’s GDPR, now one-year-old, certainly grabbed our attention and California’s similar CPPA, set to take effect early next year, has increased awareness. While the news has extensively covered major data breaches, it is easy for lawyers, law firms, in-house counsel, and their staffs to dismiss exposure to those occurrences because we typically do not collect large volumes of data in our day-to-day practices.
Reuters tech/biz writer, Jonathon Stempel, recently reported in “Yahoo strikes $117.5 million data breach settlement after earlier accord rejected,” that the settlement is the largest common fund class action settlement in data breach history. The implications of this settlement (revised from an early attempted settlement in hopes of being more palatable to federal district Judge Lucy Koh) are staggering.
Topics: Differentialsharing, compliance, riskmanagement, databreach, data breach, Yahoo breach, unsecured data, sensitive information, sensitive data, security, risk management, financial risk, Yahoobreach