Thursday, May 24, 2018

SEC First Cybersecurity Suit

Earlier this year, the SEC released its Interpretive Statement and Guidance on Public Company Cybersecurity Disclosures (“Guidance”). 

The SEC then sued Yahoo! alleging that Yahoo! had delayed disclosing a massive breach of its user database, which was disclosed only when Yahoo! was selling its operating business to Verizon. 

The enforcement proceeding resulted in a $35 million fine. presents an analysis of the decision here.

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