Manufacturers of products often are not prepared for, or aware that cybersecurity incidents can disrupt production and distribution of product. A recent filing by Molson-Coors Beverage Company illustrates that manufacturers face similar cybersecurity risks as other industries.

On March 11, 2020, Molson-Coors filed a Form 8-K with the Securities and Exchange Commission stating that:

Molson 

It is no longer a matter of if, but when companies that suffer a data breach will be sued in a class action lawsuit following a data breach. Many of those data breach cases get dismissed, as it is difficult for consumers to show they have suffered a compensable harm from a particular data breach.

On July 10, 2020, the Securities and Exchange Commission, through its Office of Compliance Inspections and Examinations (OCIE), issued a warning to advisors and broker-dealers to “immediately” review their cybersecurity controls to prevent and respond to an increase in phishing campaigns and ransomware attacks.

The Risk Alert advises that the OCIE has “observed an apparent

The criminals behind the Maze ransomware [view recent related posts here and here] have gone big and hit Cognizant, one of the largest technology consulting companies in the U.S., with its nasty ransomware.

Cognizant stated on its website that it “can confirm that a security incident involving our internal systems, and causing service disruptions

In a contentious move, the Securities and Exchange Commission (SEC) recently sued Kik Interactive Inc. for its Initial Coin Offering of $100 million, alleging it violated securities laws by not registering the offering with the SEC.

The SEC alleges that the fundraising of $100 million was illegal because it did not provide proper disclosures to

Community Health System, located in Tennessee, has agreed to settle claims made against it arising from a 2014 data breach for $4.5 million. The data breach, believed to be caused by Chinese hackers, compromised the names, dates of birth, addresses, telephone numbers, and Social Security numbers of 4.5 million patients of the hospital system, which

The Securities and Exchange Commission (SEC) this week issued an investigative report that outlined cyber incidents that nine public companies had experienced, causing fraudulent losses totaling more than $100 million. The conclusion of the report is that public companies “should consider cyber threats when implementing internal controls.”

The investigations focused on business email compromises where

Inogen, which manufactures portable oxygen devices, has alerted the Securities and Exchange Commission in a recent filing that it is notifying 30,000 individuals that their personal information was compromised when a hacker gained access to one of its employees’ email accounts through a phishing scheme.

The incident illustrates how the manufacturing sector is continuing to

In a ten page letter that previews the Financial Industry Regulatory Authority’s (FINRA) priorities for 2018, initial coin offerings (ICOs) and transactions involving cryptocurrencies. This follows previous warnings by both the Securities and Exchange Commission (SEC) and FINRA about the risks associated with investing in ICOs and virtual currencies, including Bitcoin. SEC Chairman Jay Clayton