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BLKB.US
id: 1033, Created by , Scout

Blackbaud (BLKB) Payment to Settle 49 States’ and DoC’s Claims Case

  • On October 5, 2023, Blackbaud announced an agreement to pay $49.5 million to resolve claims brought by 49 states and the District of Columbia.
  • On it, $BLKB fell 0.6%, losing $22.6M+ of shareholder value.
  • Investors may have grounds to suspect Blackbaud of security setbacks, which led to their losses.
On October 5, 2023, Blackbaud announced an agreement to pay $49.5 million to resolve claims brought by 49 states and the District of Columbia over Blackbaud’s security practices, including its response to a 2020 ransomware attack.

On this news, $BLKB fell 0.6% and lost over $22.6 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Blackbaud failed to timely disclose its security setbacks, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
05 October 2023
Collecting participants…

Blackbaud Inc

Blackbaud, Inc. provides cloud software solutions to higher education institutions, K"12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companie...

    Ticker
    BLKB.US
    ISIN
    US09227Q1004
    CIK
    1280058
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    65 Fairchild Street, Charleston, SC, United States, 29492