"1 in 5 US Ransomware Attacks Triggers Lawsuit"

According to security researchers at Comparitech, nearly one in five (18%) ransomware incidents in the US led to a lawsuit in 2023, with 123 filed so far. The researchers noted that the number of lawsuits for 2023 is likely to increase, with many data breach notifications still being issued for incidents last year. The analysis showed a growth in the number of lawsuits filed following ransomware attacks in the period from 2018-2023. The researchers said that across just over 3000 confirmed ransomware incidents over the five years, 355 lawsuits were filed, a rate of 12%. Of the 228 cases that have been completed, 59% were successful, achieving one or more of the following outcomes: a data breach settlement, the company being fined for failing to safeguard systems and/or data, or a settlement out of court/via mediation. In addition, 57 completed lawsuits resulted in voluntary dismissals by the plaintiffs (25%). Comparitech said this could suggest out-of-court settlements were reached in these cases. A further 25 (11%) were dismissed by the courts. The researchers noted that there had been a substantial increase in the proportion of completed cases dismissed voluntarily by the plaintiffs in the period covered, from 5% in 2022 to 77% in 2023.

Infosecurity Magazine reports: "1 in 5 US Ransomware Attacks Triggers Lawsuit"