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takyon writes:

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

1. "takyon" - https://soylentnews.org/~takyon/
2. "a data breach" - https://soylentnews.org/article.pl?sid=17/11/22/0835254
3. "while it was attempting to invest in the company" - https://www.reuters.com/article/us-uber-cyberattack-disclosure/uber-told-softbank-about-data-breach-before-telling-public-idUSKBN1DN28A
4. "Bloomberg" - https://www.bloomberg.com/news/articles/2017-11-24/uber-says-it-disclosed-breach-to-softbank-before-going-public
5. "SoftBank to Invest Billions in Uber" - https://soylentnews.org/article.pl?sid=17/11/13/0214246
6. "Original Submission" - https://soylentnews.org/submit.pl?op=viewsub&subid=23487

printed from SoylentNews, SoftBank Knew of Data Breach at Uber on 2023-05-26 17:15:20