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First American Hit With Derivative Suit Over Data Breach

New IdentityTheft Scam

Law360 (November 30, 2020, 5:50 PM EST) — A shareholder of title insurance company First American Financial Corp. has filed a derivative complaint in Delaware federal court alleging the company’s officers and directors allowed a security breach to expose more than 885 million sensitive records, making customers vulnerable to fraud and identity theft.

The suit, filed Wednesday by shareholder Norman Hollett, alleges the officers and directors breached their fiduciary duties and includes claims of unjust enrichment, abuse of control, gross mismanagement, waste of corporate assets and other violations of U.S. securities laws.

“The individual defendants accomplished their conspiracy, common enterprise, and/or common course of conduct by causing the company…

Source: on 2020-11-30 17:52:30

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