More bad news for Choicepoint

Looks like there was an earlier instance of massive identity theft involving Choicepoint, which is defnitely news since there CEO claims the recent highly publicized case was the first one ever of that kind. Check out this article from Yahoo at the link below, it describes some good detective work and even some good ol' fashioned luck in catching some Nigerians (imagine that, Nigeria and scams, no!) using this sort of deception.

As you might expect, ChoicePoint's stock has been hammered too, its down to 38 from 48 just a month or so ago. I would be shocked if there is not some sort of class action lawsuit over this, the scary thing for both ChoicePoint and those who had their identiy stolen is that the true cost of fixing the problem won't be known for months or even longer.

http://news.yahoo.com/news?tmpl=story&u=/ap/20050302/ap_on_bi_ge/choicepoint_1