Its Over, page-15291

...its like taking a chance buying a cheapened haunted home tainted by recent grisly murders.

...Any stock upside is finished for as long as the name is remembered.... the death of a brand, so much for policy growth.

...IMO easily will surpass its Covid lows to the downside for >20% falls.

5 year view
MPL Stock Price and Chart — ASX:MPL — TradingView
Medibank damages could run into the billions, lawyer says

Ayesha de Kretser
Damages from a class action against Medibank could run into the billions, Centennial Lawyers’ principal solicitor George Newhouse says.

He says he’s been swamped with enquiries and the legal firm’s switchboard hasn’t been able to cope as he directs people to the medibankclassaction.com.au website to register their interest.

While it’s very difficult to put a price or a cost on the damage done to an individual for having their medical details released, Newhouse says it could range from losing a job to being put at risk of violence.

“It will be the largest class action in privacy law in Australia’s history. It’s a very serious matter because not only are name and address details ... more importantly sensitive medical data has been taken ... and is perhaps going to be released into the dark web as soon as tonight,” he told reporters in Sydney.

“It’s time for Australia to have a remedy for these data breaches. The government is talking about penalties, but we are talking about compensating the individuals for the damage that has been done.“

Newhouse said Medibank and Optus had a duty of care to their customers and the class action is one of the few ways to give individuals justice for these breaches.

“We hear corporates saying they’re the victims; it’s the 9 million customers who are the victims,” he said.

“Medibank and Optus might see themselves as the victim, but they have a duty of care to individuals. We need to ensure that individuals have a remedy; it’s not just the Privacy Commissioner who is ineffective.”