EFX INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against Equifax Inc.
September 14 2017 - 3:31PM
Business Wire
The law firm of Lieff Cabraser Heimann & Bernstein, LLP
announces that class action litigation has been filed on behalf of
investors who purchased or otherwise acquired the common stock of
Equifax Inc. (“Equifax” or the “Company”) (NYSE: EFX) between
February 25, 2016 and September 7, 2017, inclusive (the “Class
Period”).
If you purchased or otherwise acquired Equifax common stock
during the Class Period, you may move the Court for appointment as
lead plaintiff by no later than November 13, 2017. A lead plaintiff
is a representative party who acts on behalf of other class members
in directing the litigation. Your share of any recovery in the
actions will not be affected by your decision of whether to seek
appointment as lead plaintiff. You may retain Lieff Cabraser, or
other attorneys, as your counsel in the actions.
Equifax investors who wish to learn more about the litigation
and how to seek appointment as lead plaintiff should click here or
contact Sharon M. Lee of Lieff Cabraser toll-free at
1-800-541-7358.
Background on the Equifax Securities Class Litigation
Equifax is an Atlanta, Georgia-based credit reporting and
identity verification company.
The action alleges that defendants misrepresented and/or failed
to disclose: 1) the Company failed to maintain adequate measures to
protect its data systems; (2) the Company failed to maintain
adequate monitoring systems to detect security breaches; (3) the
Company failed to maintain proper security systems, controls and
monitoring systems in place; and (4) as a result of the foregoing,
the Company’s financial statements were materially false and
misleading at all relevant times.
On September 7, 2017, Equifax belatedly revealed that more than
a month earlier, on July 29, 2017, it had discovered a massive
security breach by hackers who illegally gained access to the
names, Social Security numbers, birth dates, addresses, and, in
some cases, driver’s license numbers, of as many as 143 million
U.S. consumers who are now at risk of identity theft. On this news,
the price of Equifax common stock fell $19.49 per share, or 13.66%,
to close at $123.23 on September 8, 2017.
Prior to Equifax’s disclosure of the security breach, but after
it was discovered on July 29th, three Equifax senior executives –
Equifax’s Chief Financial Officer, President of U.S. Information,
and President of Workforce Solutions – sold Equifax stock and/or
exercised options to dispose of Equifax stock on August 1st and 2nd
for total proceeds of nearly $2 million.
Equifax is currently the target of several government
investigations concerning the security breach.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San
Francisco, New York, Nashville, and Seattle, is a nationally
recognized law firm committed to advancing the rights of investors
and promoting corporate responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In
compiling the list, the National Law Journal examines recent
verdicts and settlements and looked for firms “representing the
best qualities of the plaintiffs’ bar and that demonstrated unusual
dedication and creativity.” Law360 has selected Lieff Cabraser as
one of the Top 50 law firms nationwide for litigation, highlighting
our firm’s “laser focus” and noting that our firm routinely finds
itself “facing off against some of the largest and strongest
defense law firms in the world.” In late 2016, Benchmark Litigation
named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in
America.”
For more information about Lieff Cabraser and the firm’s
representation of investors, please visit
http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170914006329/en/
Source/Contact for Media Inquiries OnlyLieff Cabraser
Heimann & Bernstein, LLPSharon M. Lee, 1-800-541-7358
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