Latitude Group Holdings Limited (LFS) is facing a potential class action lawsuit stemming from the cyberattack it experienced in March 2023. Maurice Blackburn Lawyers are investigating a possible class action on behalf of individuals whose personal information was compromised during the breach. This development adds another layer of complexity to the challenges faced by Latitude following the incident, which resulted in the theft of millions of customer records.
The cyberattack, one of the largest in Australian corporate history, exposed sensitive data including names, addresses, dates of birth, and in some cases, passport and driver’s license details. The fallout has already been significant, with Latitude incurring substantial costs related to remediation, customer support, and regulatory investigations. The potential class action could further increase these expenses and damage the company’s reputation.
Maurice Blackburn argues that Latitude may have failed in its duty to adequately protect customer data. The law firm is currently gathering information from affected individuals to assess the viability of the class action. If pursued, the lawsuit could seek compensation for damages suffered by individuals as a result of the data breach, including emotional distress, financial loss, and the increased risk of identity theft. Latitude has acknowledged the investigation and stated it will cooperate with any inquiries. The company’s share price may come under pressure as investors assess the potential financial impact of the lawsuit and the ongoing reputational damage associated with the cyberattack.
