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First American Ditches Investors' Data Breach Suit, For Now

By Lauren Berg (September 22, 2021, 8:23 PM EDT) — A California federal judge on Wednesday tossed an investor suit alleging First American Financial concealed its flawed security, exposing 850 million customers’ sensitive information and causing its stock to drop, finding that the investors haven’t shown the company knew about the breach when it made data security risk disclosures.

U.S. District Judge Dale S. Fischer granted First American Financial Corp.’s motion to dismiss the proposed class action led by the St. Lucie County Fire District Firefighters Pension Trust Fund, finding that the investors haven’t shown the insurance company had actual knowledge of the breach when it made disclosures or that those…

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