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Federal Trade Commission’s Position As Cybersecurity Regulator Is Confirmed

In a case that will have significant ramifications for the legal landscape relating to cybersecurity, the Third Circuit Court of Appeals affirmed a lower court’s decision that the Federal Trade Commission (FTC) had the authority to regulate companies’ data security practices.

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CONTACT: Drew M. Hicks

Hackers Broaden Scope of Cyber Attacks to Conduct Insider Trading

On August 11, 2015, federal prosecutors in New York and New Jersey filed criminal charges against two alleged hackers and seven other individuals who allegedly traded securities based upon stolen information. The Securities and Exchange Commission filed a related civil complaint against those same nine individuals, as well as 23 other individuals and corporate entities.

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CONTACT: Drew M. Hicks

U.S. Office of Management and Budget Releases Proposed Cybersecurity Guidelines

As promised, the U.S. Office of Management and Budget on Tuesday released a set of proposed cybersecurity guidelines to help government agencies draft contracts with information technology contractors.

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Cybersecurity Updates Across the Three Branches

As the Supreme Court revels in its summer hiatus, and the federal government slows to its August halt, here is a status update and forecast on pending data breach litigation: 

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Seventh Circuit Sides with Plaintiffs and Reinstates Consumer Data Breach Class Action Previously Dismissed for Lack of Standing

Last week the Seventh Circuit reinstated the Neiman Marcus data breach class action, holding that plaintiffs had satisfied Article III’s standing requirements based on at least some of the injuries they alleged. In doing so, the Seventh Circuit became the first federal court of appeals to rule on a challenge to the standing of purported data breach victims in light of the Supreme Court’s decision in Clapper v. Amnesty International, 133 S. Ct. 1138 (2013), and diverged from the growing majority of federal district courts that have held similar allegations are insufficient to confer standing.

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CONTACT: Jacob D. Rhode

Another Court Joins Majority In Dismissing Data Breach Class Action For Lack of Standing, But Spokeo Could Change the Litigation Landscape

Last week, the Eastern District of Louisiana joined the growing majority of district courts around the country that have held increased risk of future identity theft or identity fraud posed by a data breach is not sufficient to confer Article III standing on individuals whose information has been compromised but not yet misused.

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DOJ Cyber Incident Guidelines – A Good Read for All Companies Looking to Develop a Cybersecurity Plan

On April 29, the Department of Justice published its “Best Practices for Victim Response and Reporting of Cyber Incidents”, which is an excellent, easy to read summary of steps companies can take to protect against cybersecurity incidents 

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The Value of Cyber Insurance in Managing the Risk of a Data Breach

Cyber insurance
The risk of a data breach now tops the list of concerns of many in-house counsel and C-suite executives. Cyber insurance is an important component in managing this risk and mitigating the damages and loss that follow a data breach.

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