Blackbaud (BLKB) Enters Settlement with FTC Over 2020 Security Incident

Blackbaud (NASDAQ: BLKB) announced a settlement with the U.S. Federal Trade Commission (the "FTC") related to its 2020 security incident. When finalized, this settlement will fully resolve the previously disclosed matter with the FTC.

"We are pleased to resolve this matter with the FTC," said Mike Gianoni, president and CEO, Blackbaud. "Protecting our customers' and their constituents' privacy will always be of paramount importance to Blackbaud, and we continue to strengthen our cybersecurity and compliance programs with the goal of improving our resilience in an ever-changing threat landscape."

Blackbaud has not been fined by the FTC and is not otherwise required to make any payment as part of this settlement. In entering into this settlement, Blackbaud has neither admitted nor denied any of the allegations made by the FTC, whether in the FTC's complaint or its associated press release. Additional details can be found in Blackbaud's Form 8-K filed today with the Securities and Exchange Commission.

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