Migliaccio & Rathod LLP is currently investigating Acorn Financial Services (“Acorn”) for an apparent failure to safeguard individual information in a data breach. Acorn’s financial advisors are also registered with Royal Alliance Associates, Inc. (“Royal Alliance”). On August 22, 2022, Acorn discovered an unauthorized actor had stolen data from its systems. Acorn has now begun notifying affected individuals. It has not yet provided any explanation for the gap between the initial discovery of the breach and this belated report to affected customers. Acorn has reported the following information stolen: name, address, date of birth, driver’s license number, financial account number, Social Security number, and other financial account information.
The cybercriminals responsible for the breach may have already obtained and sold the compromised consumer information. In previous data breaches, victims of data theft have noticed identity theft attempts ranging from fraudulent charges on bank accounts or credit cards, medical and/or government services ordered in their name, or their information being posted on the dark web.
Have you recently received a data breach notification from Acorn?
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The lawyers at Migliaccio & Rathod LLP have years of experience in class action litigation against large corporations, including in cases involving data breaches such as this. More information about our current cases and investigations is available on our blog.