VLP Partner Melissa Krasnow Quoted in Bloomberg Law Article “Securities Fraud Claims Get Boost from EU Data Privacy Rules”
VLP Partner Melissa Krasnow was quoted in the Bloomberg Law article “Securities Fraud Claims Get Boost from EU Data Privacy Rules”
The article reported that company shareholders are using the European Union’s data protection rules to help bolster privacy-related securities fraud claims against publicly traded companies.
The article noted that the number of securities fraud actions are on the rise amid a series of high-profile data incidents, despite the high legal bar for such cases. As more cases arise, shareholders are looking to strengthen their arguments. According to Bloomberg, the latest strategy, used in four of the eleven complaints filed in 2018 after the GDPR took effect, involved citing compliance with the law and its impact on financial growth.
Ms. Krasnow told Bloomberg Law that the GDPR and other recent data breach notification and security laws, such as Canada’s mandatory breach notification requirements that took effect last November, could provide plaintiffs’ attorneys with “additional bases for these claims.”
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