Simpson Manufacturing shuts down IT systems after cyberattack

Simpson Manufacturing shuts down IT systems after cyberattack

October 11, 2023 at 09:59AM

Simpson Manufacturing, a leading American building and structural materials producer, disclosed a cybersecurity incident via an SEC filing. The company detected IT problems and application outages caused by a cyberattack, leading them to take impacted systems offline. The disruption in business operations is expected to continue as remediation efforts are underway. The nature of the cybersecurity incident is still unknown, and the company is working with third-party experts for investigation and recovery.

Based on the meeting notes, here are the key takeaways:

1. Simpson Manufacturing experienced a cybersecurity incident that resulted in disruptions to its IT infrastructure and applications, leading to the suspension of business operations.
2. The incident was detected on October 10, 2023, and was identified as a cyberattack.
3. To prevent the spread of the attack, Simpson Manufacturing took all impacted systems offline.
4. Remediation efforts are underway, but the process may take some time, leading to continued disruptions in business operations.
5. The exact type of cybersecurity incident has not yet been determined, and no ransomware groups have claimed responsibility.
6. Data theft is a significant concern due to the company’s industry leadership and potential access to proprietary information.
7. Simpson Manufacturing has engaged third-party experts to aid in the investigation and recovery, but the efforts are still in their initial stages.
8. The announcement of the cyberattack has not affected the company’s stock trading performance at this time.
9. Additional information regarding the nature of the cybersecurity incident is being sought from Simpson Manufacturing, and further updates will be provided when available.

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