Law360 (August 16, 2021, 1:07 PM EDT) — London-based publisher Pearson PLC will pay a $1 million penalty to resolve claims that it misled investors about a 2018 cyberattack in which millions of student records were stolen, the U.S. Securities and Exchange Commission said Monday.
Without admitting or denying the SEC’s findings, Pearson agreed to settle allegations that it issued a July 2019 report referring to a data privacy incident as a hypothetical risk despite knowing “that Pearson had in fact already experienced such a data breach.”
Pearson publicly acknowledged the intrusion days later in response to an inquiry from a national media outlet with a statement that misstated…
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