Item 8.01 Other Information
On December 12, 2022, Bright Horizons Family Solutions Inc. (the "Company")
determined that a ransomware cyber-incident had impacted and disrupted a number
of the Company's operational and information technology systems. Promptly upon
detecting and containing the incident, the Company launched an investigation and
engaged the services of cyber-security experts and advisors, incident response
professionals, and external counsel to support the investigation. The Company
has notified law enforcement authorities of the incident. While the Company's
investigation is ongoing, based on our analysis to date and due to the Company's
data encryption protocols, we do not believe that client, customer, family or
employee data have been compromised. Since the incident was identified and
contained, the Company has been working to restore operational and business
systems and functionality and we have been in communication with clients and
customers about the restoration progress. Although the Company is in the early
stages of investigating and assessing the incident, based on the information
currently known, the Company currently does not expect the incident to have a
material impact on its business, operations or financial results. The Company
carries insurance, including cyber insurance, which we believe is commensurate
with the size and the nature of its operations.
Forward-Looking Statements
This Current Report on Form 8-K includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The Company's actual
results may vary significantly from the results anticipated in these
forward-looking statements. Forward-looking statements include all matters that
are not historical facts, including statements relating to the Company's
expectations regarding its ability to contain and assess the incident, the
extent of the impact caused by the incident, timing to fully restore all
systems, client and customer relations, the impact on financial results, extent
of insurance coverage, and the Company's ability to continue ongoing operations
and safeguard the integrity of its information technology infrastructure, data,
and customer information. By their nature, forward-looking statements involve
risks and uncertainties that could cause actual results to differ materially
from those projected, including but not limited to, the ongoing assessment of
the incident, legal, reputational, and financial risks resulting from this
and/or additional cybersecurity incidents, the effectiveness of business
continuity plans during the incident, and other factors disclosed from time to
time in the Company's filings with the Securities and Exchange Commission.
Forward-looking statements speak only as of the time of this release and the
Company does not undertake to publicly update or revise them, whether as a
result of new information, future events or otherwise, except as required by
law.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses