The Medibank Private Ltd (ASX: MPL) share price is currently down 3.2% to $2.74.
The S&P/ASX 200 Index (ASX: XJO) health insurer is again making headlines today for the massive data breach it suffered on 12 October.
Cybercriminals managed to access the name, date of birth, address, phone number and email address of 9.7 million current and former customers. The hackers also accessed health claims data for some 480,000 customers.
Yesterday the Medibank share price closed higher after the company said it would not pay any ransom to the hackers.
Why is the Medibank share price under pressure today?
The renewed pressure on the Medibank share price looks to be coming from two fronts: its disgruntled customers and the hackers.
On the hacking front, the purportedly Russian hackers have threatened to publish the stolen data of all the customers unless their demands are met.
As The Australian reports, the hackers have urged people to sell their Medibank shares, while delivering this threat, âA man who has committed a mistake and doesnât correct it is committing another mistake. âConfucius… Data will be publish in 24 hours.â
In separate headwinds for the Medibank share price, the health insurance giant is facing a class action suit, as The Motley Fool reported here earlier today.
Bannister Law Class Actions and Centennial Lawyers have stated that they will jointly investigate the cyber breach.
âThe lawyers will also assess whether damages should be paid to Medibank customers as a result of their breaches,â Bannister said.
How has Medibank been tracking?
The Medibank share price has yet to recover from the sharp sell-off the company faced following the hacking attack in October.
With todayâs intraday losses factored in, shares are down 20% year to date. For some context, the ASX 200 is down 8% in 2022.
The post Medibank share price slides following latest blows from hackers and customers appeared first on The Motley Fool Australia.
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More reading
- Medibank share price on watch amid class action and new data threat
- Medibank share price lifts on cyberattack ransom update
- Here are the top 10 ASX 200 shares today
- ‘Close to bottom’: Expert names 3 bargain ASX shares to buy right now
- Here are the 3 most traded ASX 200 shares on Wednesday
Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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