23andMe Faces Class Action Lawsuit Over Alleged Privacy Breach Targeting Chinese And Ashkenazi Jewish Customers
Portfolio Pulse from Nabaparna Bhattacharya
23andMe Holding Co. (NASDAQ:ME) is being sued in a class action lawsuit for failing to protect the privacy of nearly 7 million customers in a data breach. The breach, which lasted from April to September 2023, specifically targeted customers with Chinese and Ashkenazi Jewish heritage. Personal information, including names, addresses, and birth dates, was sold on the dark web. The breach was disclosed after a hacker posted customer data on a subreddit. The lawsuit raises concerns about the potential misuse of the data amid rising antisemitism.
January 27, 2024 | 8:16 pm
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23andMe is involved in a class action lawsuit due to a data breach that compromised the privacy of customers, particularly those of Chinese and Ashkenazi Jewish descent. The breach and its fallout could negatively affect the company's reputation and customer trust.
The lawsuit directly targets 23andMe and the breach of customer privacy is a significant event that could lead to loss of customer trust, potential regulatory fines, and damage to the company's reputation. This negative publicity is likely to have a short-term negative impact on the stock price.
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