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Stock impact report

Clorox files $380 million suit blaming Cognizant for 2023 cyberattack [Yahoo! Finance]

Clorox Company (The) (CLX) 
Last clorox company (the) earnings: 5/1 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
Clorox on Tuesday sued Cognizant, which managed its IT help desk, alleging the company responsible for a 2023 cyberattack that crippled Clorox's production capability and cost the company $380 million. Hackers breached Clorox in August 2023 in a social-engineering attack that disrupted its IT infrastructure and its ability to ship core products , including household cleaners and other goods, for months. In a lawsuit filed in California Superior Court, Clorox argued that Cognizant failed to protect Clorox's computer systems by handing over credentials to the attackers without proper authentication. Clorox also claims that Cognizant botched its response to the attack, prolonging the recovery time. “Clorox entrusted Cognizant with the critical responsibility of safeguarding Clorox's corporate systems — and Cognizant failed miserably,” said Mary Rose Alexander, outside counsel for The Clorox Company and partner at Latham & Watkins. “Cognizant didn't just drop the ball. They handed Show less Read more
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