5 ms·
Yep from $99M to $65M to $18M. From their 2019 annual report: In July 2019, the ICO issued a formal notice of intent under the U.K. Data Protection Act 2018 pr
by __jf__ 6y ago
Yep from $99M to $65M to $18M. From their 2019 annual report:
In July 2019, the ICO issued a formal notice of intent under the U.K. Data Protection Act 2018 proposing a fine in the amount of £99 million against the Company in relation to the Data Security Incident (the “Proposed ICO Fine”). We mutually agreed with the ICO to an extension of the regulatory process until June 1, 2020 and the ICO proceeding is ongoing. In the 2019 second quarter, we recorded an accrual in the full amount of the Proposed ICO Fine for this loss contingency, and in the 2019 fourth quarter, we reduced the accrual to $65 million based on the ongoing proceeding.