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takyon [soylentnews.org] writes:

SoftBank learned of a data breach [soylentnews.org] at Uber while it was attempting to invest in the company [reuters.com]:

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 [bloomberg.com].

Previously: SoftBank to Invest Billions in Uber [soylentnews.org]

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