Stories
Slash Boxes
Comments

SoylentNews is people

posted by Fnord666 on Friday November 24 2017, @08:27PM   Printer-friendly
from the foreshadowing dept.

SoftBank learned of a data breach at Uber while it was attempting to invest in the company:

Uber Technologies Inc said on Thursday that it discussed a massive data breach with potential investor SoftBank Group Corp ahead of going public with details of the incident on Tuesday.

The ride-hailing service is trying to complete a deal in which the Japanese company would invest as much as $10 billion (£7.52 billion) for at least 14 percent of Uber, mostly by buying out existing shareholders.

"We informed SoftBank that we were investigating a data breach, consistent with our duty to disclose to a potential investor, even though our information at the time was preliminary and incomplete," Uber said in a statement.

"We also made clear that our forensic investigation was ongoing," Uber said. "Once our internal inquiry concluded and we had a more complete understanding of the facts, we disclosed to regulators and our customers in a very public way."

Maybe they should wait for the stock to collapse first.

Also at Bloomberg.

Previously: SoftBank to Invest Billions in Uber


Original Submission

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.