The announcement of yet another business suffering a data breach is fast becoming ho-hum news. Unless, that is, you happen to be one of the 175,669,297 individuals reported by the Identity Theft Resource Center (PDF) as having sensitive personal information stolen. The organization keeps a running tab of identity theft reports, and as of November 3, 2015 there have been 641 reported data breaches in the US in 2015.
As the number of breach incidents climbs so does the number of class-action lawsuits. For example, banks affected by Target's high-profile data breach have banded together and recently won approval to continue with their lawsuit. Reuters quotes Charles Zimmerman, one of the lead lawyers representing the banks, as saying, "This important ruling brings financial institutions one step closer to collectively holding Target accountable for its unprecedented data breach."
As to why the surge in class-action litigation, Paul G....(continued)