An anonymous reader shares a report: A Florida data broker that lost hundreds of millions of Social Security numbers and other personally identifiable information in a data breach earlier this year, has filed for Chapter 11 bankruptcy protection as the company faces a wave of litigation. Jericho Pictures, the parent company of the hacked data broker National Public Data, told a Florida bankruptcy court that it was unlikely to be able to repay its debtors or address its anticipated liabilities and class-action lawsuits, including paying "for credit monitoring for hundreds of millions of potentially impacted individuals." In its initial filing, Jericho Pictures' owner, Salvatore Verini, said the company "faces substantial uncertainty facing regulatory challenges by the Federal Trade Commission and more than 20 states with civil penalties for data breaches." Read more of this story at Slashdot.

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