Peter S. Vogel, co-chair of Gardere’s cybersecurity and privacy legal services team, discussed the various dilemmas and potential consequences facing HBO in the wake of its recent data hack. According to the article, hackers are developing an interest in data beyond standard consumer information that includes potentially valuable intellectual property.
“In the movie entertainment business, there's certainly a lot of marketing involved, so if ad revenues don't flow with the release of whatever is at issue, there could be claims,” Vogel said. “We've also seen instances where shareholders have brought lawsuits if the value of the business diminished as a result of a cyberattack.”
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