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A Florida data point factor that lost hundreds of jillion of Social Security numbers and other personally identifiable info in a data breach to begin with this yr has file for Chapter 11 failure protective covering as the company faces a wave of litigation .
Jerico Pictures , the parent company of the hack data factor National Public Data , severalize a Florida bankruptcy courtthat it was unbelievable to be able to return its debtors or cover its anticipated liability and class - action lawsuits , including paying “ for quotation monitoring for hundreds of millions of potentially impacted mortal . ”
In its initial filing , Jerico Pictures ’ owner , Salvatore Verini , said the troupe “ faces solid uncertainty facing regulatory challenges by the Federal Trade Commission and more than 20 states with civil penalties for data breaches . ”
News of the bankruptcy wasfirst report by PCMag .
Since April , a hacker with a chronicle of deal steal information claim to have breached National Public Data and steal billions of phonograph record , affecting around 300 million masses , making it one of the tumid data breaches of the class .
Perthe data broker ’s data breach noticeon its website , the steal data point includes names , dates of birthing , email and postal addresses , telephone numbers , and Social Security number . Given the nature of the information that information factor collect , some of the stolen data was accurate , some of it was not , and much of it related to multitude who were at peace .
The company ’s stolen database hold about 270 million Social Security numbers in total , security measures researchers figure .
Accordingto the bankruptcy filings , Verini valued the company ’s steal database of Social Security numbers at $ 1 million . The filing also list several other databases the company maintains as assets but did not ply comparable valuations . Those datasets refer to individuals licence by the Drug Enforcement Administration to write prescriptions for control substances ; those with permission to bear concealed weapons ; and banks of data containing public records , such as marriages , divorce , bankruptcy filings , and international financial sanction , among others .
It ’s improbable that the suit or enforcement action will result in any recompense for those affect , pay what little is leave in the company ’s coffers .
The data broker ’s bankruptcy filings divulge its insurance provider “ decline coverage ” following the data breach and that the company had fewer than $ 75,000 in entire plus . Much of the company ’s gross went to purchases of bulk data and to Verini ’s wage as the caller ’s only wheeler dealer . As required by the bankruptcy filing , thecompany disclosed last profitsof $ 475,526 in 2022 and $ 865,149 during 2023 .
