Saturday, January 28, 2006

ChoicePoint Reaches Settlement With FTC

ChoicePoint reached a settlement with the FTC in which it will pay 15 million dollars, although according to the St Pete Times (AP) here, the SEC may still be investigating activity related to the sale of company shares by individuals associated with the company "after the company learned of the data breach but before it was made public."   

The company issued a statement that notes it has now implemented changes including the "creation of an independent chief credentialing, compliance and privacy officer." (here)  To correct myths circulating concerning the data breach, the company also has a Q and A explaining matters. (see here)

The Stipulated Final Judgment here provides that  the agreement for "Civil Penalties, Permanent Injunction and Other Equitable Relief" "resolve[s] all matters in dispute in this action without trial or adjudication of any issue or fact herein and without Defendant admitting the truth of, or liability for, any of the matters alleged in the Complaint."

(esp)

http://lawprofessors.typepad.com/whitecollarcrime_blog/2006/01/choicepoint_rea.html

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