In a significant legal development, a class action lawsuit has been filed against a prominent investment research company for allegedly failing to protect sensitive customer information. The complaint, filed by Allyson Eggert in the United States District Court for the Northern District of Illinois on February 20, 2025, accuses Zacks Investment Research, Inc. of negligence in safeguarding personally identifiable information (PII) that was compromised during a data breach.
The lawsuit claims that Zacks Investment Research, an entity known for providing stock performance insights, failed to implement adequate cybersecurity measures to protect its customers' PII. According to the filing, the breach resulted in unauthorized access to sensitive data such as full names, usernames, email addresses, physical addresses, and phone numbers. The plaintiff alleges that this information was exfiltrated by cybercriminals and remains at risk of misuse for identity theft and other fraudulent activities.
Eggert contends that the breach has exposed her and other class members to various harms including invasion of privacy, theft of PII, diminished value of their personal information, and potential identity theft. She argues that Zacks's failure to employ reasonable security practices constitutes negligence under Section 5 of the Federal Trade Commission Act. The complaint highlights several deficiencies in Zacks's cybersecurity protocols and asserts that these lapses directly led to the data breach.
The plaintiff seeks injunctive relief from the court along with monetary damages exceeding $5 million. The relief sought includes measures to ensure enhanced security protocols are implemented by Zacks Investment Research moving forward. Additionally, Eggert demands compensation for out-of-pocket expenses incurred due to the breach and ongoing costs related to credit monitoring services.
Representing Eggert in this case is attorney [Plaintiff's Lawyer Name], while [Defendant's Lawyer Name] represents Zacks Investment Research. The case is presided over by Judge [Judge Name] under Case ID 1:25-cv-01755.