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Fnord666 [soylentnews.org] writes:

After analyzing the top three breaches from the past three years, Bitglass found that in the aftermath of a data breach, a decrease in stock price was a notable repercussion identifiable for publicly traded companies.

The report, Kings of the Monster Breaches [bitglass.com], identified the extensive damage done by improper security by looking specifically at the Marriott breach of 2018 [infosecurity-magazine.com], the Equifax breach of 2017 [infosecurity-magazine.com] and the Yahoo! breach of 2016 [infosecurity-magazine.com]. These top three breaches had a widespread impact on individuals, with a reported mean number of 257 million individuals directly affected by each breach.

Research also showed that these breaches have cost an average of $347 million in legal fees, penalties and remediation costs. "Marriott uncovered the breach while seeking GDPR compliance; the company is now being fined $912 million under the regulation," the report said.

[...] Publicly traded companies suffered an average drop of 7.5% in their stock values and a mean market cap loss of $5.4 billion per company, and it reportedly took 46 days, on average, for those stock prices to return to their pre-breach levels. To date, the stock price of Equifax has not yet recovered.

Source: InfoSecurity [infosecurity-magazine.com]

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