The Securities and Exchange Commission (SEC) is currently conducting an investigation into Twitter Inc.’s handling of a 2018 security breach that exposed users’ personal information prior to Elon Musk’s acquisition of the platform last year.
The SEC’s inquiry centers on whether former top executives failed to adequately disclose the privacy breach to shareholders and implement necessary security controls.
An undisclosed source has revealed this information, as the investigation remains confidential. The breach in question allowed unauthorized parties to access user email addresses during password resets, effectively revealing users’ identities.
Related: Musk Facing SEC Lawsuit Over Twitter Takeover
This incident occurred during Jack Dorsey’s tenure as CEO, with Ned Segal as CFO and Parag Agrawal serving as the chief technology officer. Bloomberg News initially reported on the security flaw.
Source: Bloomberg
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI