Source: Bloomberg
Summary
A lawsuit filed by a former IBM cybersecurity executive alleges that IBM and two of its subsidiaries were breached in the mid-2010s, but the company failed to disclose and actively covered up the incidents. The lawsuit claims that IBM prioritized its reputation over customer security. The allegations include failure to notify affected customers and hiding the breaches from investors. The lawsuit seeks damages and calls for improved cybersecurity practices.
Our Reading
The announcement sounds ambitious.
IBM faces a lawsuit over alleged data breaches in the mid-2010s. The company is accused of not disclosing the breaches and actively covering them up. This is not the first time a major tech company has been accused of prioritizing reputation over customer security. The lawsuit claims IBM failed to notify affected customers and hid the breaches from investors. Because, of course, nothing says “security” like a good cover-up.
Author: Evan Null
