2024-04-08 B. Riley Financial, Inc. Cybersecurity Incident

Page last updated on April 11, 2024

B. Riley Financial, Inc. initially disclosed a cybersecurity incident in an SEC 8-K filing on 2024-04-08 17:20:23 EDT.

Company Summary

B. Riley Financial is a diversified provider of financial and business advisory services. Crunchbase

Incident Details

Material: No
Is Breach: Unknown
Records Compromised: Unknown
Data Types Impacted: No Data Types Tracked (yet)

Compromised Date:
Detected Date: 2024-04-05
Disclosure Date: 2024-04-08
Contained Date: 2024-04-08
Recovered Date:

Attack Goal: Unknown

Costs: No Costs Tracked (yet)

Filings

8-K filed on 2024-04-08

B. Riley Financial, Inc. filed an 8-K at 2024-04-08 17:20:23 EDT
Accession Number: 0001213900-24-031252

Item 1.05 Material Cybersecurity Incidents.

On April 5, 2024, Targus International, LLC and certain affiliates (collectively, “Targus”), each of which is an indirect subsidiary of B. Riley Financial, Inc. (the “Company”), discovered that a threat actor gained unauthorized access to certain of Targus’ file systems. Upon discovery and with assistance from external cybersecurity counsel and consultants, Targus immediately activated its incident response and business continuity protocols to investigate, contain and remediate the incident. Through this process, proactive containment measures to disrupt unauthorized access resulted in a temporary interruption in the business operations of the Targus network.

The incident has been contained and Targus systems recovery efforts are in process.

While the investigation is ongoing and the incident has temporarily disrupted Targus’ business operations, as of the date of this filing, the Company does not currently believe that this incident will materially impact the Company’s financial condition or results of operations taken as a whole. Business operations for each of the Company’s other subsidiaries have continued without disruption in all material respects, and no other Company business has been affected. Last year, Targus was not a significant contributor to the Company’s Operating Adjusted EBITDA.

Targus has notified relevant regulatory authorities and will work with law enforcement with respect to the unauthorized access to information.

Company Information