The Securities and Exchange Commission (SEC) charged
four companies for alleged misleading information to investors regarding cybersecurity
incidents.
Alleged Inadequate Cyber Disclosures
The SEC charged Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd, and Mimecast Limited with misleading investors regarding cybersecurity incidents. According to the SEC, the companies downplayed
the seriousness of cyber intrusions related to one of the most high-profile
breaches in recent years.
The regulator mentioned that the four companies faced
cyberattacks but failed to disclose the full scope of the incidents, leaving
shareholders in the dark. SEC fined the companies $6 million.
Downplaying Cyber Breaches
The companies involved did not admit to or deny the
charges but agreed to cooperate with the SEC by improving their cybersecurity
controls. Each firm is now required to cease any future violations of the
charged provisions.
The investigation into these firms was led by the
SECβs Crypto Assets and Cyber Unit, further emphasizing the agencyβs commitment
to holding companies accountable for cybersecurity-related disclosure failures.
Expect ongoing updates as this story evolves.
The Securities and Exchange Commission (SEC) charged
four companies for alleged misleading information to investors regarding cybersecurity
incidents.
Alleged Inadequate Cyber Disclosures
The SEC charged Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd, and Mimecast Limited with misleading investors regarding cybersecurity incidents. According to the SEC, the companies downplayed
the seriousness of cyber intrusions related to one of the most high-profile
breaches in recent years.
The regulator mentioned that the four companies faced
cyberattacks but failed to disclose the full scope of the incidents, leaving
shareholders in the dark. SEC fined the companies $6 million.
Downplaying Cyber Breaches
The companies involved did not admit to or deny the
charges but agreed to cooperate with the SEC by improving their cybersecurity
controls. Each firm is now required to cease any future violations of the
charged provisions.
The investigation into these firms was led by the
SECβs Crypto Assets and Cyber Unit, further emphasizing the agencyβs commitment
to holding companies accountable for cybersecurity-related disclosure failures.
Expect ongoing updates as this story evolves.
This post is originally published on FINANCEMAGNATES.
