Scottrade Faces Consolidated Data Breach Class Action Lawsuit
There’s an update to the Scottrade breach previously reported on this blog. The breach, potentially impacting 4.6M customers, was disclosed in October 2015 but had reportedly occurred between late 2013 and early 2014. Three individuals were indicted in November, 2015.
Now Top Class Actions reports that a consolidated data breach class action lawsuit was filed in Missouri federal court last week.
“Scottrade’s cybersecurity measures were so deficient that it never realized the massive theft occurred until two years later, when federal authorities told them about it,” the Scottrade class action lawsuit states. The hackers allegedly accessed the personal identification information (PII) of Scottrade customers from September 2013 to February 2014 without detection from Scottrade, which the plaintiffs call an “inexcusable failure of Scottrade’s obligation to take reasonable steps to safeguard this information.”[…]
The consolidated Scottrade class action lawsuit was filed on Feb. 19 by plaintiffs Andrew Duqum, Stephen Hine, Matthew Kuhns and Richard Obringer. Hine filed a separate data breach class action lawsuit in California, but Scottrade argued in December that it should be consolidated with a nearly identical case that was already pending in Missouri.
Read more on Top Class Actions.