March 9, 2023

Blackbaud Inc., which provides donor data management software to non-profits, has agreed to pay $3 million for allegedly failing to maintain internal disclosure procedures and for omitting material information about the scope of a 2020 ransomware attack in a publicly-filed report.  Although company employees learned that sensitive information affecting 13,000 customers were accessed within days of the attack, they failed to inform senior management, resulting in the company downplaying the effects of the attack.  SEC

Tagged in: Misrepresentations,