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Company Stock Takes Hit After Breaches

DATA LOSS

May 9, 2011

The Wall Street Journal reports on the financial impact on Sony after last month's data breaches. Mintz Levin attorney Cynthia Larose, CIPP, said, "Taken as a whole, the number of customers affected, the PR impact and now the legislative inquiries" rank these data breaches "at the top." Late last week, a class-action lawsuit was filed against Sony in U.S. District Court in Boston, MA, for unauthorized data storage, poor security and late customer notification. Sony has defended its customer notification response. Over the weekend, it was announced that the company experienced a third data breach. (Registration may be required to access this story.)
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