Cyber-Attacks and other good excuses... 2376
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VISITING EDGAR…
{EDGAR stands for Electronic Data Gathering, Analysis, and Retrieval. It is the database of the Securities and Exchange Commission (SEC), the system through which the SEC accepts electronic transmission of submissions from filers (www.sec.gov/edgar/searchedgar/webusers.htm).}
I have read something interesting…
UNITED STATES SECURITIES AND EXCHANGE COMMISSION -
WASHINGTON, D. C. 20549
FORM 10-Q
Quarterly Report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934
For the quarterly period ended December 31, 2007
RESPIRONICS, INC.
‘The statements contained in this Quarterly Report on Form 10-Q, including those contained in Item 2 ‘Management’s Discussion and Analysis of Financial Condition and Results of Operations’, along with statements in reports filed with the Securities and Exchange Commission (SEC), external documents and oral presentations, which are not historical are ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities and Exchange Act of 1934, as amended.’
‘These forward-looking statements represent the Company’s present expectations or beliefs concerning future events. The Company cautions that such statements are qualified by important factors that could cause actual results to differ materially from the expected results included in the forward-looking statements.’
‘Those factors include, but are not limited to, the following:
the impact of the pending merger agreement with Philips, developments in the healthcare industry;
the success of the Company’s marketing, sales, and promotion programs;
future sales, acceptance, and quality of the Company’s products and programs;
the results of clinical trials;
the timing and success of new product introductions;
new product development;
anticipated cost savings;
FDA and other regulatory requirements, enforcement actions, product recalls or related field actions;
future results from acquisitions and strategic investments;
growth rates in foreign markets; regulations and other factors affecting operations and sales outside the United States;
foreign currency fluctuations; the effects of a major natural disaster,
cyber-attack
or other catastrophic event that results in the destruction or disruption of any critical business or information technology systems;
customer consolidation and concentration;
increasing price competition and other competitive factors in the manufacture, distribution, and sale of products;
interest rate fluctuations; expiration of intellectual property rights; intellectual property and related litigation; other litigation;
future levels of earnings and revenues; the number of equity awards granted to employees and changes in the Company’s stock price;
and third party reimbursement; all of which are subject to change.’
Well, I have prepared a statement:
‘I will make you rich if you send me USD1’
But…
This is a forward-looking statement representing my present expectations or beliefs concerning future events. My cautions that such statements are qualified by important factors that could cause actual results to differ materially from the expected results.
Those factors include, but are not limited to, the following: the success of your marketing, sales, and promotion programs; future sales, acceptance, and quality of your products and programs; the timing and success of new product introductions; new product development; anticipated cost savings; future results from acquisitions and strategic investments; growth rates in foreign markets; foreign currency fluctuations; the effects of a major natural disaster, cyber-attack or other catastrophic event that results in the destruction or disruption of any critical business or information technology systems; increasing price competition and other competitive factors in the manufacture, distribution, and sale of products; interest rate fluctuations; expiration of intellectual property rights; intellectual property and related litigation; other litigation; future levels of earnings and revenues.’
Thank you EDGAR.
I feel that I can sell anything.
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Hi George - Thanks for sharing this
I also see how difficult it might be to gauge whether a prospective company you wish to invest in, might be subject to this exposure.
As a security professional, hopefully most companies take security threats seriously and perform the appropriate counter-measures to control the constant barrage of evolving threats we see today.
The biggest exposure I see is when sensitive privacy information is leaked (e.g., account, SSN, or other sensitive data is stolen in a serreptious manner). As PCI/DSS and many other standards mandate – companies have a fiduciary responsibility to protect sensitive information.
Still, whether a company will be hit by a major cyber-attack exposure is something that’s difficult to predict (e.g., like where lightning might strike), as many factors and even some bad luck come into play. Below is one noteable case (and we sometimes see in the news where other company networks are compromised)
TJX’s failure to secure Wi-Fi could cost USD1B
Please copy to your browser
http-and-#58;//blogs.zdnet.com/Ou/?p=485
The news of the TJ Maxx data breach has rocked the retail and banking industry, and many estimate that it will cost hundreds of millions or even a billion-plus dollars in financial damage . It was already widely reported back in March that the TJ Maxx breach was probably due to an insecure wireless network, but the Wall Street Journal is now reporting that it happened outside of a St. Paul, MN, Marshalls discount store in July 2005 (Marshalls is owned by TJX Cos.) WSJ is reporting that investigators believe that the hacker used a laptop and a telescope-shaped antenna.