Press release

Bitglass Report: Publicly Traded Companies Suffering the Worst Data Breaches Averaged a 7.5 Percent Decrease in Stock Price

Sponsored by Businesswire

the Next-Gen CASB company, released findings today from its latest
report: Kings
of the Monster Breaches
. Bitglass researched the three largest data
breaches of publicly traded companies from each of the last three years
in order to uncover cybersecurity trends and demonstrate the extensive
damage that can be done by improper security. Among the incidents
detailed in the report are the Marriott breach of 2018, the Equifax
breach of 2017 and the Yahoo! breach of 2016.

Kings of the Monster Breaches explores the causes, repercussions and
company responses for each of these preeminent breaches. Additionally,
it recaps three of the most significant cybersecurity incidents that
affected government agencies and private companies over the last three
years. The report’s findings highlight the similarities between leading
breaches and suggest that organizations have not been learning from the
mistakes of their peers.

Key findings:

  • The mean number of individuals directly affected by each breach was
    257 million.
  • To date, these breaches have cost their companies an average of $347
    million in legal fees, penalties, remediation costs and other expenses.
  • The average post-breach market cap decrease was $742 million (this
    excludes the outlier Facebook breach which lost $43 billion in market
  • It took an average of 46 days for the companies’ stock prices to
    return to their pre-breach levels – Equifax’s stock price still has
    yet to recover.

“The largest breaches over the past three years have caused massive and
irreparable damage to large enterprises and their stakeholders around
the globe,” said Rich Campagna, Chief Marketing Officer of Bitglass.
“This should serve as a stark warning to organizations everywhere. If
massive companies with seemingly endless resources are falling victim to
external attacks, then companies of all sizes must remain vigilant in
their cybersecurity efforts. It is only by taking a proactive approach
to security that breaches can be prevented and data can truly be kept

To learn about the biggest data breaches of the past three years as well
as their devastating repercussions, download the full report here:

About Bitglass
Bitglass, the Next-Gen CASB company, is based
in Silicon Valley with offices worldwide. The company’s cloud security
solutions deliver zero-day, agentless, data and threat protection for
any app, any device, anywhere. Bitglass is backed by Tier 1 investors
and was founded in 2013 by a team of industry veterans with a proven
track record of innovation and execution.