In re Equifax Inc. Securities Litigation

Court: United States District Court, Northern District of Georgia
Case Number: 1:17-cv-03463-TWT
Judge: Hon. Thomas W. Thrash
Class Period: 02/25/2016 - 09/15/2017
Case Contacts: James A. Harrod, Abe Alexander, Brenna Nelinson

This securities fraud class action asserts claims under Section 10(b) of the Exchange Act of 1934 against Equifax, Inc. (“Equifax” or “the Company”) and its executives, including former Chief Executive Officer Richard F. Smith, and Chief Financial Officer John W. Gamble, as well as “control person” claims under Section 20(a) of the Exchange Act against Equifax’s executives, including CEO Smith and CFO Gamble, on behalf of all persons who purchased Equifax securities between February 25, 2016 and September 15, 2017 and suffered damages thereby.  

The action asserts claims arising from false and misleading statements made by Equifax and its executives concerning the Company’s data security, including their failure to disclose the massive data breach the Company experienced in 2017 while touting Equifax’s commitment to cybersecurity.  The action further alleges that the truth about Equifax’s vulnerability to unauthorized intrusions into its data systems was revealed to investors in the days following the Company’s September 7, 2017 announcement that its systems had been compromised in one of the largest data breaches in U.S. history, resulting in the theft of highly-sensitive information regarding more than 143 million Americans.  At least $5 billion in shareholder value was destroyed when the facts concealed by Defendants’ false and misleading statements were revealed through these disclosures.   

On February 21, 2018, the Honorable Thomas W. Thrash, U.S. District Judge for the Northern District of Georgia, entered an Order appointing Union Asset Management as Lead Plaintiff and appointing BLB&G as Lead Counsel for the investor class.

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