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CLX
New York Post
28 days

Clorox sues IT firm Cognizant over cyberattack, alleges hackers got passwords simply by asking

1. Clorox sues Cognizant over damages from a 2023 cyberattack. 2. The hack cost Clorox $380 million, impacting product shipping. 3. Cognizant's staff allegedly provided credentials without proper verification. 4. Cybercriminals accessed Clorox's network through social engineering tactics. 5. Failings by Cognizant hindered Clorox's recovery from the attack.

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FAQ

Why Bearish?

The lawsuit indicates significant operational and financial damage, reminiscent of past corporate cyberattack impacts on stock value.

How important is it?

The cyberattack's extensive financial impact and ensuing lawsuit is likely to concern investors.

Why Short Term?

Immediate legal and financial implications could affect CLX’s stock in the near future, similar to previous cyberattack aftermaths.

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