regulatory
confidence high
sentiment negative
materiality 0.65
Blackbaud settles California AG probe over 2020 data breach for $6.75M
BLACKBAUD INC
- Final Judgment with California Attorney General resolves last U.S. state investigation into 2020 security incident.
- Blackbaud agrees to comply with data protection laws, avoid misleading statements, and enhance cybersecurity programs.
- Pays $6.75 million to California; amount fully accrued as contingent liability as of March 31, 2024.
- Denies wrongdoing; settlement terms generally consistent with prior 49-state + DC agreement from October 2023.
- Court-ordered injunctive relief includes incident response plans, information security program, and breach notification procedures.