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T-Mobile North America shareholders have launched a Derivative class action lawsuit on its board of directors following the August 2020 cyber breach. The attacked levied a fine of $92m from the Federal Communications Commission (FCC).
The complaint is that defendants failed to protect customer data. Heed the red flags demonstrating the lack of cybersecurity over customer data and repeatedly committed to do better next time, representing that data security was a priority at T-Mobile. The defendants failure caused substantial damage to the company and its stockholders.
This will be one to watch with the SEC eyeing cyber risk governance regulation in 2021.
Brian McCarthy Ted Dziekanowski Jason Spezzano
#ransomware‚Â #fisma‚Â #ofac‚Â #theaugustagroup‚Â #theaugustaplan‚Â #cybersecurity‚Â #supplychainriskmanagement‚Â #cyberriskmanagement‚Â #compliance‚Â #regulatorycompliance‚Â #regulatoryoversight‚Â #esg‚Â #scrm‚Â #cscrm‚Â #fca‚Â #cybercompliance‚Â #cyberregulation‚Â #cybergovernance‚Â #falseclaimsact‚Â #aws‚Â #dhs‚Â #cisa‚Â #appgai‚Â #securitiesandexchangecommission
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