Cybersecurity Breach Liability
October 14, 2014
Companies need to be able to make the case they have implemented “reasonable security” in the face of cyber threats, writes Seyfarth Shaw attorney John Tomaszewski, even though it’s not clear exactly what reasonable security is. One requirement that is clear, however, is that there be a thorough and continually updated risk assessment. In any case if there is a cybersecurity breach, a lawsuit is almost certain, either from parties whose data was compromised or from shareholders whose shares have lost value as the result of the breach. Now a third potential plaintiff, specifically targeting individuals, has entered the picture: the FTC.
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