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Data Breach Class Actions

Data breach class actions significantly rose in 2023, tripling 2022’s numbers, with 2024 expected to set new records. The escalation is marked by notable cases such as Marriott’s $52 million penalty. On average, following a data breach announcement, companies witnessed a stock price drop of 7.27%. To protect against such, firms must implement strong cybersecurity measures, conduct regular audits, and develop robust settlement strategies.

Source: www.directorsandboards.com –

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