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Small Businesses and the Equifax Breach

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Small Businesses and the Equifax Breach

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Last year, credit reporting agency Equifax experienced a data breach that impacted 143 million consumers. Fallout from the breach included class action lawsuits initiated by various plaintiff classes such as consumers, financial institutions and a small business class.

In a recent motion to dismiss the claims of the small businesses, Equifax argued that the businesses lack the necessary “standing” to bring such claims, as the exposed data belonged to the owners of the small businesses rather than the businesses themselves. 

In response, the businesses argued that they are “foreseeable victims” in addition to their consumer owners and cite to the importance to small businesses of owner creditworthiness. The businesses pointed to damages incurred including credit reporting and monitoring and other steps that were taken to guard against the potential impact of the Equifax breach.The court has not yet decided Equifax’s motion to dismiss the small businesses’ claims.

The Consolidated Class Action Complaint for Small Business Claims is available here.  Contact us at Ossian Law P. C. regarding any information technology law matter.

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