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SEC charges four companies with misleading cyber disclosures

(www.sec.gov)
81 points impish9208 | 1 comments | 22 Oct 24 16:56 UTC | HN request time: 0.203s | source
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MattSteelblade ◴[22 Oct 24 18:14 UTC] No.41917058[source]▶
> Unisys will pay a $4 million civil penalty;

> Avaya. will pay a $1 million civil penalty;

> Check Point will pay a $995,000 civil penalty; and

> Mimecast will pay a $990,000 civil penalty.

With the exception of Mimecast, these are companies that are bringing in billions of dollars in revenue annually. How is this supposed to deter them?

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1. SpicyLemonZest ◴[22 Oct 24 20:28 UTC] No.41918370[source]▶
It's not a case of deterrence. As the orders linked from the press release describe, all four of these companies have been cooperating extensively with the SEC to fix things up and agreed to continue doing so as part of the settlement.