Security News > 2021 > August > Zoom Settlement: An $85M Business Case for Security Investment

Zoom just lost an $85 million class-action lawsuit this week for its cybersecurity missteps, proving that even the most essential and relied-upon brands can be tripped up by inadequate security.

"This large Zoom settlement should be a wake-up call to not only all software and service providers, but also for the enterprises that use them," Emil Sayegh, president and CEO of Ntirety explained to Threatpost.

No one could have possibly predicted how quickly Zoom would become the go-to way to do business in a pandemic-plagued economy.

In 2020, the Zoom reported a 326 percent spike in sales, and Zoom CEO Eric Yuan announced last March the company is still anticipating a 40-percent increase in sales in 2021.

By late March, Zoom found itself accused of misrepresenting its security.

Kevin Bocek, vice president of security strategy and threat intelligence at Venafi, told Threatpost that the $85 million settlement will send a strong message for management teams everywhere.

News URL

https://threatpost.com/zoom-settlement-85m-security-investment/168445/