Blackbaud to pay $3M to settle SEC charges of a misleading ransomware investigation

NodeGuardian · 2026-03-10T12:41:50+00:00

Blackbaud will pay $3 million to settle SEC charges for misleading investors about a 2020 ransomware attack that compromised sensitive data. The company has since enhanced its cybersecurity and governance practices.

NodeGuardian

2026-03-10 12:41:50

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Blackbaud has agreed to pay $3 million to settle charges by the SEC for misleading investors about the scope of a 2020 ransomware attack. The SEC found that Blackbaud’s public statements and regulatory filings downplayed the impact of the attack, despite internal knowledge that sensitive data, including bank account information and social security numbers, had been exfiltrated. The company has since implemented governance changes and strengthened cybersecurity measures.

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