2023-03-14 QUICKLOGIC Corp Cybersecurity Incident

Page last updated on April 11, 2024

QUICKLOGIC Corp initially disclosed a cybersecurity incident in an SEC 8-K filing on 2023-03-14 17:25:25 EDT.

Incident Details

Material: Unknown
Is Breach: Unknown
Records Compromised: Unknown
Data Types Impacted: No Data Types Tracked (yet)

Compromised Date:
Detected Date: 2023-01-20
Disclosure Date: 2023-03-14
Contained Date:
Recovered Date:

Attack Goal: Unknown

Costs: No Costs Tracked (yet)

Filings

8-K filed on 2023-03-14

QUICKLOGIC Corp filed an 8-K at 2023-03-14 17:25:25 EDT
Accession Number: 0001437749-23-006511

Item 7.01 Regulation FD Disclosure.

In reference to the banking uncertainty highlighted by the recent takeover of Silicon Valley Bank (“SVB”) by the Federal Deposit Insurance Corporation (“FDIC”), the Company would like to emphasize that it does not hold any deposits or securities, or maintain any accounts, at SVB and it does not have any banking relationship with SVB. Furthermore, it is unaware at this time of any material impact that the closure of SVB will have on any material commercial partners of the Company, including customers and suppliers, but it does not believe that there is likely to be a material impact on the Company as a result of the closure of SVB.

Additionally, on January 20, 2023, the Company detected a ransomware infection affecting a limited number of IT systems. Upon detection of the incident, the Company promptly began an assessment of all Company IT systems, notified law enforcement, and engaged legal counsel and other incident response professionals. Through counsel, the Company retained a leading cybersecurity forensics firm to review and investigate the incident. The Company’s investigation and assessment of the incident’s impact is ongoing.

The Company has continued its business operations during this incident and successfully restored all of its critical operational data. The Company has also taken steps to further secure its IT systems. Based on the ongoing investigation and information currently known at this time, the Company believes the incident has not had nor will have a material impact on its business, operations, ability to serve its customers, or financial results.

The Company carries insurance, including cyber insurance, commensurate with its size and the nature of its operations.

This information is “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Securities Exchange Act of 1934 or the Securities Act of 1933 only if and to the extent such subsequent filing specifically references the information incorporated by reference herein.

This Current Report shall not be deemed an admission as to the materiality of any information in this Current Report that is being disclosed pursuant to Regulation FD.

Company Information