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EquiLend Data Breach Investigation

The Lyon Firm is reviewing a cyberattack that targeted EquiLend, a global financial technology, data and analytics firm operating out of New York. An investigation is underway, and the total impact of the incident is not known.

Contact our data breach lawyers to learn more about data privacy litigation, and how to file class action data theft claims when a company that collects and stores your personal information fails to properly maintain secure networks. 

What Happened at EquiLend?

In a recent press release, EquiLend said that on January 22, 2024, company technicians identified a “technical issue that placed portions of our system offline.” According to sources, the company identified a cybersecurity incident in which unnamed threat actors gained unauthorized access to their network.

On their website, the company says they first identified the data security incident on January 22, 2024, and will continue to share timely updates as they become available.

Industry insiders are saying a ransomware incident affected the functionality of portions of EquiLend platforms and services. The company has hired third-party cybersecurity experts and launched an investigation to determine the scope of the incident, including any impact on stored sensitive personal information. As of January 30, 2024, EquiLend has not said whether the incident resulted in a data breach.

Their statement notes: “We are currently working through a systematic recovery plan to get our clients back to business as usual with us as quickly and securely as possible. We have made significant progress and are reaching out to our clients directly with updates on our path to recovery to help them plan and anticipate next steps.”

EquiLend works with agent lenders, broker-dealers and beneficial owners worldwide. Headquartered in New York, EquiLend has offices in New Jersey, Boston, Toronto, London, Dublin, India, Hong Kong and Tokyo.

The FBI recently warned companies of certain hackers specifically targeting firms that are in the process of merging, or acquisitions. EquiLend announced that it will soon be acquired by Welsh, Carson, Anderson & Stowe (WCAS), a private equity firm.

Contact our data theft lawyers following any notice of data breach. You may be able to recover compensation and hold any negligent parties accountable for damages. The Lyon Firm represents plaintiffs in all fifty states and has filed a wide range of class action data privacy lawsuits.