Lieff Cabraser Civil Justice Blog
Lieff Cabraser Announces Securities Class Action Against Equifax Inc.

EFX INVESTORS ALERT: Lieff Cabraser Announces Securities Class Action Against Equifax Inc.

SAN FRANCISCO, CA – (September 14, 2017) – The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that class action litigation has been filed on behalf of investors who purchased or otherwise acquired the common stock of Equifax Inc. (“Equifax” or the “Company”) (NYSE: EFX) between February 25, 2016 and September 7, 2017, inclusive (the “Class Period”).

If you purchased or otherwise acquired Equifax common stock during the Class Period, you may move the Court for appointment as lead plaintiff by no later than November 13, 2017. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the actions.

Equifax investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at 1-800-541-7358.

Background on the Equifax Securities Class Litigation

Equifax is an Atlanta, Georgia-based credit reporting and identity verification company.

The action alleges that defendants misrepresented and/or failed to disclose: 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 belatedly revealed that more than a month earlier, on July 29, 2017, it had discovered a massive security breach by hackers who illegally gained access to the names, Social Security numbers, birth dates, addresses, and, in some cases, driver’s license numbers, of as many as 143 million U.S. consumers who are now at risk of identity theft. On this news, the price of Equifax common stock fell $19.49 per share, or 13.66%, to close at $123.23 on September 8, 2017.

Prior to Equifax’s disclosure of the security breach, but after it was discovered on July 29th, three Equifax senior executives – Equifax’s Chief Financial Officer, President of U.S. Information, and President of Workforce Solutions – sold Equifax stock and/or exercised options to dispose of Equifax stock on August 1st and 2nd for total proceeds of nearly $2 million.

Equifax is currently the target of several government investigations concerning the security breach.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco, New York, Nashville, and Seattle, is a nationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility.

The National Law Journal has recognized Lieff Cabraser as one of the nation’s top plaintiffs’ law firms for fourteen years. In compiling the list, the National Law Journal examines recent verdicts and settlements and looked for firms “representing the best qualities of the plaintiffs’ bar and that demonstrated unusual dedication and creativity.” Law360 has selected Lieff Cabraser as one of the Top 50 law firms nationwide for litigation, highlighting our firm’s “laser focus” and noting that our firm routinely finds itself “facing off against some of the largest and strongest defense law firms in the world.” In late 2016, Benchmark Litigation named Lieff Cabraser one of the “Top 10 Plaintiffs’ Firms in America.”

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Source/Contact for Media Inquiries Only

Sharon M. Lee
Lieff Cabraser Heimann & Bernstein, LLP
Telephone: 1-800-541-7358