Wow folks check the SEC press release today.

"SEC Charges Software Company Blackbaud Inc. for Misleading Disclosures About Ransomware Attack That Impacted Charitable Donors
FOR IMMEDIATE RELEASE
2023-48

Washington D.C., March 9, 2023 —"

Can we say it again, this companies leadership is in trouble. Read the entire release. Easy to find just search SEC and BLKB about 8 page read. Shows that high level management had no idea about things that employees and mid level had found. How the he-l can the C level stay employed yet layoff so many employees to cover there a-s. How can they not be held responsible for not having the avenues in once to report this all the way up the chain. If they settled this for $3 million how many more millions are coming down the pipe to cover individual organization lawsuits.

Once again as someone posted weeks ago. They laying off to cove data breach costs.

Comment! It's anonymous!

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They knew. Ask anyone who was there.

This is classic Blackbaud. For years it’s been apparent that “bad news” of any kind doesn’t travel up the chain of command to the C suite. Directors and below know the house is on fire but c suite keeps making clueless moves like they’re living in some kind of perpetual fu----g Potemkin village. Everything is rosy, products are the best, Blackbaud has no competition, etc.

Oof.

Board of directors maybe it's time to not extend executive level contracts and bring new executive blood in. Otherwise we won't have a company if the current leadership keeps ripping it apart like this. How could there not have been a system in place for lower level employees to report such important data breach information and get that information up to the executive level. So they could handle it properly. You know things that need to be put in place from top down and clearly weren't because this leadership is inept.

Thread regarding Blackbaud Inc. layoffs

Wow folks check the SEC press release today.

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