151–160 of 670 posts
Earlier quoted context omitted.
Why $1,000? And how would you prove damages equaling that amount?
$15/month for identify protection/tracking X 12 X 40 years. You can't even dispute $15/month, since that's how much Equifax charges for their identity protection, so that must be how much it's worth since they caused these damages. That makes it more like $7200 in damages, not including the cost of money over time, inflation, etc.
I'd love to see the $70B number pan out (though $500 per person is less than the damages, I think) -- Equifax is a $17B company, and would presumably stop existing if that happened. On the other hand, these things always settle out of court, and Equifax certainly won't settle the suit for more than they're worth. I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in smal…
> I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in small claims court. If ~15% of the class does this, they are out of business, and lawyers don't get a dime of the $1000. IANAL, but can't you only sue for actual damages not hypothetical damages? According to this [1] your identity with SSN is only worth $30 on the black market. To get $1000 out of them you'd probab…
Earlier quoted context omitted.
Actually, since I'm affected, I got a different message. It's even worse. They gave me a date in September that I have to remember to come back and sign up for. It's the equivalent of grabbing a ticket in the deli line. Look at this text: "Please be sure to mark your calendar as you will not receive additional reminders. On or after your enrollment date, please return to faq.trustedidpremier.com and click the link to…
I got the same message, but nowhere did I read "you have been affected". Is this just implied? I cancelled my Equifax credit watch account about 5 months ago, when they decided to raise rates. Never have I hoped so much for a business to be sued out of existence. And hopefully their inside traders will get jail time (yeah, right).
Earlier quoted context omitted.
This class action will likely be settled in the same way the Ticketmaster case was settled ... with a coupon book good for 2 free credit reports.
To be fair, class action suits aren't really about recovering damages for the class members. Or at least, not entirely. That's almost incidental. Rather, they're most often about leveraging a large class of injured parties--whose injuries are usually relatively minor on an individual basis--to force a change of behavior by adding up all of those small injuries. The cost of pursuing each claim individually would usual…
Earlier quoted context omitted.
All of the identities have been stolen. It’s a matter of whether they’re used at this point.
True, but in the US you can not really sue for possible harms. You can only sue for actual harms which can be remedied by the court. Leaking your information isn't a harm the court can remedy. Abuse of the leaked information is a harm the court can remedy.
The government is clearly of the opinion that they can and should prosecute people for leaking information which could cause possible harms.
I’m clearly not a lawyer, but these scenarios seem pretty similar to my untrained eye.
Earlier quoted context omitted.
This class action will likely be settled in the same way the Ticketmaster case was settled ... with a coupon book good for 2 free credit reports.
To be fair, class action suits aren't really about recovering damages for the class members. Or at least, not entirely. That's almost incidental. Rather, they're most often about leveraging a large class of injured parties--whose injuries are usually relatively minor on an individual basis--to force a change of behavior by adding up all of those small injuries. The cost of pursuing each claim individually would usual…
I'd love to see the $70B number pan out (though $500 per person is less than the damages, I think) -- Equifax is a $17B company, and would presumably stop existing if that happened. On the other hand, these things always settle out of court, and Equifax certainly won't settle the suit for more than they're worth. I said it elsewhere, but I think the right response is to opt out of the class, and sue for $1000 in smal…
I'll watch the outcome of this breach with interest. It strikes me that at the very least credit rating agencies should be non-profit and very closely monitored by government. This will include ensuring security best practice is followed.
As others have rightly pointed out, they even have the audacity to call us customers. Like somehow we turned 18 and signed up for their service. I certainly didn't, and it annoys me that a company whom I have no control over can make or break my credit history.
It's a sign of how awful Equifax is that I find myself rooting for the lawfirms in this case. I really hope they win, and that they get the full $70 billion, and that it's enough to shutter Equifax permanently. What a win that would be! Also it would serve as a nice cautionary tale to companies that infosec matters. That insurance for data breaches matters. Because right now, it's too easy for them to not care. It's…