Defendant Name: Blackbaud, Inc.

Defendant Type: Public Company
SIC Code: 7372
CUSIP: 09227Q10

Initial Case Details

Legal Case Name In the Matter of Blackbaud, Inc.
First Document Date 09-Mar-2023
Initial Filing Format Administrative Action
File Number 3-21339
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-13
• Rule 13a-15
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)

Resolutions

First Resolution Date 09-Mar-2023
Headline Total Penalty and Disgorgement $3,000,000

Related Documents:

33-11165 09-Mar-2023 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On March 9, 2023, the SEC instituted settled cease-and-desist proceedings against Blackbaud, stating: "This matter concerns materially misleading disclosures by Blackbaud regarding a ransomware attack that resulted in the unauthorized access and exfiltration of sensitive customer information."
2023-48 09-Mar-2023 Press Release--Administrative Proceeding
SEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack that Impacted Charitable Donors
The SEC "announced that Blackbaud Inc., a South Carolina-based public company that provides donor data management software to non-profit organizations, agreed to pay $3 million to settle charges for making misleading disclosures about a 2020 ransomware attack that impacted more than 13,000 customers."