secwatch.observer — SEC 8-K summary
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Issuer:     BLACKBAUD INC (BLKB)
CIK:        0001280058
Form:       8-K
Filed at:   2023-10-05T23:59:59+00:00
Accession:  0001280058-23-000040
Event type: regulatory
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blackbaud settles 2020 cyber incident with 49 states & DC for $49.5M
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- Settlement with 49 state AGs and DC resolves multi-state investigation of 2020 data breach that exposed over 1M files across 13,000 customers.
- Blackbaud pays $49.5M in Oct 2023; amount fully accrued as of June 30, 2023, no impact on 2023 guidance.
- Company must comply with consumer protection laws, HIPAA, and enhance cybersecurity programs; no admission of liability.
- California AG investigation remains unresolved; company says no assurance of acceptable terms.
- Settlement does not affect previously provided 2023 financial guidance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000040/0001280058-23-000040-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1280058/000128005823000040/blkb-20231005.htm
  HTML page:      https://secwatch.observer/filing/0001280058-23-000040

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