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By Staff Reporters
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On September 16th, 2024, ancestry and genetics-testing company 23andMe has agreed to pay a $30 million settlement after a class-action lawsuit was brought against the company for last year’s data breach.
The settlement, which is pending a judge’s approval, comes after the company confirmed in October that “threat actors” used about 14,000 accounts, approximately 0.1% of the company’s user base, to access the ancestry data of 6.9 million connected profiles. Leaked data included users’ account information, location, ancestry reports, DNA matches, family names, profile pictures, birth dates and more.
CEO’s plan to take it private?
And so, all seven of the struggling DNA testing company’s independent directors just stepped down from its board of directors, leaving only founder and CEO Anne Wojcicki. A committee formed by the board had previously rejected Wojcicki’s plan to take the company private, concluding that it didn’t offer a high enough premium to shareholders. Wojcicki persisted with her efforts, but in their resignation, the directors said they still hadn’t seen a “fully financed, fully diligenced, actionable proposal,” so they couldn’t agree on the strategic direction forward.
The CEO said in a memo to employees that she was “surprised and disappointed” by their decision.
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Filed under: "Doctors Only", Drugs and Pharma, Ethics, Investing, LifeStyle | Tagged: 23&me, ancestory, Anne Wojcicki, DNA, genetics testing | Leave a comment »
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