Security consultants have reportedly uncovered evidence that hackers have stolen information regarding merger and acquisition deals related to dozens of companies over the last year.
Researchers at FireEye have handed over information to law enforcement regarding their findings. According to the security group, more than 80 companies have had their M&A information stolen for more than a year. FireEye says the hackers have Wall Street expertise.
The hackers have been named FIN4 by the researchers. FireEye says the group has tricked lawyers, consultants and Wall Street executives into sharing confidential M&A information, most likely to use for insider trading.
FireEye released its report on the findings Monday.
In an interview, FireEye manager of threat intelligence Jen Weedon says the sophistication of FIN4 suggests the hackers have worked in the financial sector, and are mostly likely American.
FireEye says most of the seemingly compromised data involve healthcare and pharmaceutical mergers. In one instance, researchers found that hackers obtained confidential information prepared for the Securities and Exchange Commission related to an attempted acquisition of a publically traded company. Experts found evidence of FIN4’s apparent hacking as far back as mid-2013.
FireEye says it has handed over its research to the Federal Bureau of Investigation, which is currently looking into the matter, say reports.
Full content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
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