Surprise there is a lawsuit against Equifax. The lawsuit accused Equifax of failing to implement reasonable procedures to protect the information and for failing to notify victims of the breach in a timely manner
The hacked information included names, full Social Security numbers, birth dates, addresses, driver’s license numbers and credit card numbers (possibly shoe sizes, mother’s maiden names, original hair color, etc.) of 143 million people.
Before notifying the public of their misdeeds the executives of Equifax took advantage of the situation to sell $1.8 million worth of stock in the days before the breach was made public. So they got theirs.
To make matters worse Equifax tried to have customers sign a waiver and arbitration agreement by falsely saying it was a complimentary one-year enrollment of one of its products. Obviously the plan was to shrink the class pool of the lawsuit.
“The offer was a deceptive, coercive and an unconscionable effort to trick customers to get them to give up important rights and remedies,” Lumb said one of the suing attorneys.
Now the recommendation is to pay all three credit bureaus to freeze your credit. So Equifax screws up and potentially makes money on the event. The new American way.