Kroger Reaches $5M Settlement With Breach Victims, as Supreme Court Defines 'Actual Harm'
Ron Raether, leader of the Cybersecurity, Information Governance, and Privacy team at Troutman Pepper, is quoted extensively in the SC Magazine article, " Kroger Reaches $5M Settlement With Breach Victims, as Supreme Court Defines 'Actual Harm'." (Select quotes reprinted below.)
For Ron Raether, partner of Troutman Pepper, the settlement and Supreme Court decision shine a light on the challenge regulators face in addressing remediation of threats, breaches, and the ongoing ransomware crisis.
"Regulators have struggled with whether a carrot or stick will address these issues," said Raether. "However, the stick approach will not move the needle. Instead, regulators and companies need to join together to fight this common enemy."
. . .
"In cases where no statutory claim exists, like HIPAA, it creates further challenges on claims that the loss of the data to the hacker somehow diminished the value of the data," he added.