Financial Services
Every company’s worst nightmare
Our client experienced one of the largest and most public data breaches to date, which precipitated a wave of class action lawsuits, Congressional scrutiny, and regulatory investigations, including inquiries by the U.S. Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), Securities and Exchange Commission (SEC), and attorney generals of 50 states and territories, as well as by regulators in Canada and the United Kingdom.
Our team crafted a global strategy designed to address the biggest litigation and regulatory risks, and led the company’s response to the FTC and CFPB investigations, advised the company on corporate disclosure issues, and assisted them with communications and day-to-day strategy throughout. Our team combined regulatory, corporate, legislative, and litigation expertise with deep experience handling matters before the FTC and CFPB as well as data breach class actions, including multidistrict litigation. While being agile, flexible, and scalable, we ensured that there was a consistent focus on the overall strategy across work streams and stakeholders.
We helped our client reached a landmark global resolution that resolved investigations by the FTC, CFPB, the attorney generals of 50 states and territories, the New York Department of Financial Services, and multidistrict litigation consisting of more than 250 putative class actions, thereby eliminating the biggest litigation and regulatory risks from the data breach.