News | 12.15.21
Transamerica Sued by 401(k) Participant over Data Breach
A breach of 401(k) participant data earlier this year has prompted a class action lawsuit against Transamerica Retirement Solutions. The company in June became aware of a change within one of its websites that let employer customers view compromising data about participants in other retirement plans, according to a notice posted by the State of California. The company failed to protect sensitive information and waited too long to make 401(k) participants aware of the problem, according to a complaint filed earlier this month in US District Court in the Southern District of New York.
Read the full article on InvestmentNews