Uber Continues To Court Controversies - Accepts Accountability For Concealing 2016 Data Breach

  • Uber Technologies, Inc UBER accepted responsibility for covering a 2016 data breach compromising 57 million passengers and drivers, Reuters reports.
  • Uber admitted that its personnel failed to report the November 2016 hacking to the U.S. Federal Trade Commission despite probing into the ride-sharing company's data security.
  • U.S. Attorney Stephanie Hinds in San Francisco said Uber waited about a year to report the breach after installing new executive leadership.
  • Hinds said the decision not to criminally charge Uber reflected new management's prompt investigation and disclosures and Uber's 2018 agreement with the FTC.
  • Uber also cooperated with the prosecution of a former security chief, Joseph Sullivan, over his alleged role in concealing the hacking.
  • In September 2018, Uber paid $148 million to settle claims by all 50 U.S. states and Washington, DC, that it was too slow to disclose the hacking.
  • Recently Uber reached a multi-million-dollar settlement agreement with the Department of Justice for wrongfully charging wait-time fees to passengers with physical disabilities.
  • Price Action: UBER shares traded higher by 1.16% at $23.57 in the premarket on the last check Monday.
  • Photo via wikimedia Commons
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