Zoom, a videoconferencing solutions provider that saw business surge during the COVID-19 pandemic, has also faced a number of security-related issues, from alleged privacy violations, Zoombombing activities that drew the attention of the FBI to revelations that an iOS app that the company has since removed was sharing analytics with Facebook, which culminated in a class-action lawsuit in California that Zoom reached a settlement with for over $85 million, according to Threatpost
The court's ruling on July 31 ordered the company to set aside the amount in a fund payable to U.S. users amounting from $15 to $25. The company was also ordered to pay $21 million in legal fees. The judge did not find Zoom liable for the Zoombombing incidents, citing the Communications Decency Act whose provisions protect a company from content generated by other users. Claims that Zoom
abused user data were also dismissed.
This event will serve as a strong message to companies about the consequences of underinvesting in security, said Kevin Bocek, Venafi's vice president of security strategy, and underlines the need for companies to treat security with the same weight as revenue.