B. Riley Financial subsidiary Targus suffers cybersecurity incident; operations temporarily disrupted

BRC Group Holdings, Inc.

Discovered on April 5, 2024, unauthorized access to Targus file systems; containment caused temporary business interruption.
Incident investigation is ongoing; systems recovery efforts in process; no material impact expected on B. Riley's financial condition.
Targus was not a significant contributor to B. Riley's Operating Adjusted EBITDA in the prior year.
Other B. Riley subsidiaries unaffected; business operations continued without disruption.
Targus notified regulatory authorities and is working with law enforcement.

Key facts

Extracted from this filing and checked against the source text.

Cybersecurity Incidents SEC 8-K Item 1.05 confidence 0.9

BRC Group Holdings, Inc. disclosed a cybersecurity incident: A threat actor gained unauthorized access to certain of Targus’ file systems. Impact: Temporary interruption in the business operations of the Targus network; incident contained and systems recovery efforts are in process. Company determined it not material. Discovered 2024-04-05.

Nature: A threat actor gained unauthorized access to certain of Targus’ file systems
Impact: Temporary interruption in the business operations of the Targus network; incident contained and systems recovery efforts are in process
Materiality: not material
Discovery: 2024-04-05

Exact text from the 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.

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2 cybersecurity incidents filed in the last 30 days. Browse all cybersecurity incidents →

BRC Group Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-031252

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