In $2017,$ Equifax faced a cybersecurity attack that comprised the personal information of approximately

$150$ million Americans. Four hackers noticed Equifax failed to update their security software and

discovered a flaw to gain remote access to the platform. It exposed consumers' data, such as names and

social insurance numbers. Equifax's primary service is to collect and protect consumer data, and the breach

effectively destroyed consumer confidence. Also, the stock price fell $18\%$ in one day, the steepest one$-$day

drop in the past $16$ years. How does a data breach affect a firm's future performance? How does it affect a

firm's intrinsic value? What are the measures Equifax taking to rectify the issue? Please note that your

answers should reflect relevant readings and additional research.