Landmark White saboteur inflicts another devastating blow against valuation firm
The saboteur of the Landmark White valuation database privacy has inflicted another devastating blow against the listed valuation company.
LMW has called another trading halt in its shares from Wednesday, to possibly update shareholders on Friday morning with a view to a resumption in trade.
The request came in an update after the market had closed.
The troubled valuation firm admitted National Australia Bank, Bankwest, Bendigo & Adelaide Bank, Suncorp, HSBC and Latrobe had all stopped using it for valuation work, joining ANZ and CBA which ceased their valuations soon after the initial notification of a further breach of valuation files.
It advised the business would result in a material loss of business revenue.
The initial breach cost up to $7 million.
It maintained the latest data breach did not constitute a notifiable breach under law as only limited private information was contained in the documents posted onto document sharing site SCRIBD.
Only yesterday Landmark White had previously disclosed CBA and ANZ were among a "small number of clients" who had dropped LMW from their valuation panels.
