Data Leak Wipes $22bn Off Google Stock Value

A human error at Google’s financial printer R.R. Donnelly caused around 9% to be wiped on the stock yesterday.

Google released a statement on what had caused its stock to plunge 9% before Nasdaq halted trading in the early afternoon.

“Earlier this morning R.R. Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it’s finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30 PM PT”.

The third-quarter earnings report was due out after the market closed but was instead published on the Securities and Exchange Commission’s website at 12:30 pm ET on Thursday.

This was followed by R.R. Donnelley’s statement:
“We are fully engaged in an investigation to determine how this event took place and are pursuing our first obligation – which is to serve our valued customer.”

Although accidental this is a great example how data loss can even effect a huge company, even Google and effect world markets. Losses through hacker attacks are on-going with many companies unaware of the data being lifted from their organizations.

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