Breach taxonomy
Summary
On April 5, 2024, Targus International (an indirect subsidiary of B. Riley Financial) discovered that a threat actor gained unauthorized access to certain of its file systems. Proactive containment measures temporarily interrupted Targus's business operations. The incident was contained and systems recovery was underway at filing. B. Riley's other subsidiaries were unaffected. Targus was not a significant contributor to B. Riley's operating EBITDA.
Tagging rationale
ThreatUnknown
Filing does not attribute the incident to any specific threat actor → UNKNOWN.
MethodsSystem Outage
Filing states a threat actor gained access to Targus's file systems and containment measures resulted in a temporary business interruption; no specific attack method disclosed.
AssetsRevenue Process
Filing describes temporary interruption to Targus's business operations due to containment measures, affecting its revenue-generating processes.
EffectsBiz Interruption
Containment measures caused temporary interruption to Targus's business operations, qualifying as business interruption.
Business continuityPartial
Filing states Targus activated incident response and business continuity protocols and the incident was contained with systems recovery in process, but temporary business interruption occurred → Partial.
Impact
Temporary business interruption at Targus, a non-significant EBITDA subsidiary of B. Riley Financial; other subsidiaries unaffected and incident was contained.
InsuranceNot disclosed
Filing makes no mention of insurance.
Read the original SEC filing excerpt
Item 1.05 Material Cybersecurity Incidents On April 5, 2024, Targus International, LLC and certain affiliates, each of which is an indirect subsidiary of B. Riley Financial, Inc., discovered that a threat actor gained unauthorized access to certain of Targus' file systems. Upon discovery and with assistance from external cybersecurity counsel and consultants, Targus immediately activated its incident response and business continuity protocols to investigate, contain and remediate the incident. Through this process, proactive containment measures to disrupt unauthorized access resulted in a temporary interruption in the business operations of the Targus network. The incident has been contained and Targus systems recovery efforts are in process. While the investigation is ongoing and the incident has temporarily disrupted Targus' business operations, as of the date of this filing, the Company does not currently believe that this incident will materially impact the Company's financial condition or results of operations taken as a whole. Business operations for each of the Company's other subsidiaries have continued without disruption in all material respects, and no other Company business has been affected.