Meta Materials discloses cyber incident by ex-executive; Canada sub files bankruptcy

META MATERIALS INC.

Former executive officer deliberately deactivated website, disrupting IT systems including email; restored July 29 but still stressed.
Subsidiary Metamaterial Technologies Canada Inc. filed for bankruptcy July 26; Grant Thornton appointed trustee for wind-down.
Company has not yet determined if cyber incident will materially impact financial condition or results.
No evidence of unauthorized access to IP, customer, or stakeholder proprietary information from the incident.

Key facts

Extracted from this filing and checked against the source text.

Cybersecurity Incidents SEC 8-K Item 1.05 confidence 0.9

META MATERIALS INC. disclosed a cybersecurity incident: A former executive officer deliberately de-activated and cancelled the renewal of the Company’s website, significantly impacting IT systems including email communications. Impact: Website was offline for a period of time and communications delayed; the Company continues to evaluate unauthorized access to sensitive and confidential information, but other than these disruptions, the incident does not appear to have had a material impact on intellectual property or customer/stak. Materiality is still being assessed. Discovered 2024-07-25.

Nature: A former executive officer deliberately de-activated and cancelled the renewal of the Company’s website, significantly impacting IT systems including email communications.
Impact: Website was offline for a period of time and communications delayed; the Company continues to evaluate unauthorized access to sensitive and confidential information, but other than these disruptions, the incident does not appear to have had a material impact on intellectual property or customer/stak
Materiality: assessing
Discovery: 2024-07-25

Exact text from the filing

The Company has not yet determined whether the incident is reasonably likely to materially impact the Company’s financial condition or results of operations.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-089345

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