Defendant Name: Blackbaud, Inc.

Defendant Type: Public Company

Document Reference: 2023-48

Document Details

Legal Case Name In the Matter of Blackbaud Inc.
Document Name SEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack that Impacted Charitable Donors
Document Date 09-Mar-2023
Document Format Administrative Proceeding
File Number 3-21339
Allegation Type Issuer Reporting and Disclosure
Document Summary 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."

Disgorgement & Penalty Information

Resolutions
Cease and Desist Order
Monetary Penalties:

Civil Penalty

Individual:     $3,000,000.00 Shared:    

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."