Audra Cohen and Melissa Sawyer Co-author Article on Cybersecurity Issues Facing Directors at Consumer & Retail Companies for Bloomberg BNAJuly 20, 2015
On July 20, Bloomberg BNA published an article co-authored by Mmes. Cohen and Sawyer titled “Five Issues Directors of Consumer and Retail Companies Should Consider Immediately Following a Cybersecurity Breach.” In the article, Mmes. Cohen and Sawyer explain that retail companies are particularly tempting targets for cyber thieves, since they have so much customer information and rely on user-friendly interfaces. The article pinpoints five areas that company directors should consider in the immediate aftermath of an attack: ensure management is implementing its response plan, expect the stock price to react, prepare for litigation, consider other U.S. and international compliance issues and confirm what coverage is available under insurance policies. “The more directors can demonstrate that their company had well-considered response plans prepared…the better directors (and shareholders) will fare,” the authors explained.