Companies forced to make financial changes after a cyberattack

A new study from Cohesity finds 70 percent of publicly traded companies have reported adjusting earnings or financial guidance after a cyberattack. Among the impacts 68 percent say they observed an impact on their stock price, while 73 percent of privately held firms redirected budgets from innovation and growth initiatives. In addition 92 percent reported experiencing legal, regulatory, or compliance consequences, including fines, lawsuits, or other enforcement actions. “These findings show that cyberattacks now touch every part of an organization, testing even the most well-prepared as aftershocks spread beyond technical recovery,” says Sanjay Poonen, chief executive officer and president at… [Continue Reading]