Since Equifax announced its enormous data breach, it has been hit with more than 30 lawsuits in the US.  Yesterday, it was served with one accusing it of committing securities fraud.

The securities allegations include misleading shareholders on its consumer data protection practices and inflating financial statements before the data breach was announced.

Equifax's shares have fallen about 20% since the data breach announcement.

It is not mentioned in this article, but I've seen many criticisms from data security experts on how this breach was handled.  In particular, Equifax's offer of free credit monitoring for a year is receiving significant backlash.

It is crucial to have a well thought out plan, including media statements and customer solutions, in advance of a data breach.