8x8 Discloses Cyberattack, Customer Data Exfiltrated from CRM System
EGHT is trading near its 52-week low of $1.565 (8.6% above the low) on elevated volume (2.5× avg).
Summary
8x8 Inc. disclosed a cyber incident where an unauthorized third party exfiltrated competitively sensitive customer information, including fragmented contract details, sales notes, and contact information, from its Salesforce CRM system via a third-party integration between June 11-12. This news follows an 8-K filing earlier today. While the company states it does not expect a material financial impact, the breach of customer and competitive data presents significant risks, including potential regulatory fines, reputational damage, and customer churn, especially for a cloud communications provider. The company is notifying regulatory authorities and continuing its investigation.
At the time of this announcement, EGHT was trading at $1.70 on NASDAQ in the Technology sector, with a market capitalization of approximately $234.4M. The 52-week trading range was $1.57 to $2.88. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.