RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Equifax Inc. (NYSE: EFX) (“Equifax” or the “Company”) securities between February 25, 2016 and September 7, 2017, inclusive (the “Class Period”).
Equifax shareholders may, no later than November 13, 2017, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Equifax and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint filed in this class action alleges that throughout the class period the Company issued materially false and/or misleading statements and/or failed to disclose that: (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 disclosed that the Company’s systems were hacked in a cybersecurity incident that may have affected about 143 million U.S. consumers. According to the Company, hackers accessed names, Social Security numbers, birth dates, addresses and driver’s license numbers as well as credit card numbers for about 209,000 consumers.
On this news, the Company’s stock price fell $19.49 per share, or 16%, to close at $123.23 per share on September 8, 2017, thereby injuring investors.
If you are a member of the class, you may, no later than November 13, 2017, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.