23 And, the genetic testing giant, which is worth the billions, is now visiting the bankruptcy of Chapter 11, and is informing millions of current and former consumers that they may be eligible to file claims as part of the reorganization process. Company and its 11 sub – Filed for the protection of bankruptcy On March 23 this year, in the eastern district of Missouri. Consumers were informed on Sunday that they had to file claims for the losses by July 14.
The bankruptcy has followed the 18 -month turmoil for 23 and Mai, which violates sales, executive departure, and a disastrous data that has compromised with sensitive personal information of about 7 million consumers. Violation, publicly disclosed October 2023Consumer names, years of birth, relationship labels, percentage of DNA shared with relatives, lineage reports, and self -reported locations, exposed, According to Tech Crunch. Fallout stimulates a number of class action legislatures and a wave of consumer dissatisfaction that strictly reduce the company’s consumer business.
Now, users who were affected by this violation – especially those who have informed 23 and May that their information has been compromised between May and October 2023 – can file a file known as A. Claiming Cyber Security incident. Those facing financial or other losses due to violations can make a claim as part of the bankruptcy case. Other types of cybertack complaints, such as DNA test results or company television services cases, may submit separate claims under it. Package of normal bar history.
Congress is also Expressed concerns about the implications of privacy Of bankruptcy
The fall of 23 and MI was sharp, and its problems were complicated by its expensive but expensive extension in digital health and telemedicine, including. million 400 million Acquisition of Lemonide Health in 2021. In fact, consumer DNA testing was to diversify 23 and MI offers, the move put 23 and Mi’s financial resources at stress and failed to provide the development that the company needed.
A proposed $ 30 million settlement in the Cybertic -related class proceedings trial Stays on the hold Due to bankruptcy process. (23 and May lawyers say the settlement is now in the dispute that the company is in bankruptcy.) Consumers who want to maintain the right to compensation will have to present formal evidence of the claim, regardless of the participation of the class proceedings.
The Tech Crunch has reached 23 more for comment.
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