You are a senior executive at a large multinational technology corporation, TechSecure Inc. The company specializes in providing secure cloud storage and data management services to a wide range of clients, including government agencies, private companies, and individual users. TechSecure Inc. has recently come under scrutiny due to a series of ethical and legal concerns related to data privacy and security. A significant data breach has occurred, resulting in the exposure of sensitive personal and financial information of thousands of its clients. This breach was due to a cybersecurity vulnerability in the company's systems that could have been addressed but was not acted upon in a timely manner. Data Sharing with Third Parties: It has come to light that TechSecure Inc. has been sharing user data, including browsing habits and personal information, with third-party marketing companies without the explicit consent of its users. This data sharing has generated substantial revenue for the company but has raised serious ethical and legal concerns about user privacy and consent.

In one paragraph - Explain the ethical and legal implications of this scenario.

In a second paragraph - Apply a management theory  that you could apply in resolving this problem.