Yacht Retailer MarineMax Files ‘Cyber Incident’ with SEC

Yacht Retailer MarineMax Files 'Cyber Incident' with SEC

March 13, 2024 at 04:59PM

MarineMax disclosed a “cybersecurity incident” to the SEC, reporting a third-party’s unauthorized access to its information systems. Despite the disruption, the company stated the incident had not materially impacted its operations, with no sensitive data compromised. The investigation is ongoing, and law enforcement has been notified. The company filed a voluntary notice to ensure compliance.

Based on the meeting notes, it is clear that MarineMax, a national boat and million-dollar-yacht retailer, experienced a cybersecurity incident which was disclosed in a filing with the Securities and Exchange Commission (SEC) on March 12. The incident was due to a third party gaining unauthorized access to portions of its information environment. The company has not provided specific details regarding the nature of the incident or the identity of the threat actor.

The company complied with SEC incident-disclosure rules by filing a Form 8-K within four business days of determining the incident was material, despite stating that the incident did not have a material impact on its operations. However, MarineMax has emphasized that it does not store any sensitive data in its systems that could have been compromised during the incident.

The company also indicated ongoing investigation and involvement of law enforcement authorities. It’s worth noting that there is some discrepancy in the language used in the filing, suggesting a cautious approach to compliance.

Overall, MarineMax’s response to the cybersecurity incident, as outlined in the meeting notes, reveals a proactive approach to compliance with SEC regulations and a commitment to ongoing examination of the situation.

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