No one considered what would happen if ConnectEDU went bankrupt.
Now the company is selling off all of their assets. What is one of the biggest assets the company has? In a world that thrives on information, it’s all of that juicy personal data that is supposed to have been protected.
First, they at least want users notified of the impending sale of data and to be given the option to remove personal information. Second, they would prefer the data be destroyed rather than sold. Clearly, the second option would maintain the promised privacy for users.
This is important information for businesses or lawyers dealing with bankruptcy to consider. Privacy can’t go out the window simply because a company can no longer stay solvent.
The FTC is working to help protect the privacy of consumer data, even when unfortunate situations such as this arise.