Tag: U.S. Securities and Exchange Commission (SEC)
Evolv Technology reveals employees “engaged in misconduct” during sales
October 25, 2024SSN Staff
WALTHAM, Mass.—Evolv Technology, a manufacturer of AI-based weapons detection technology, has announced that employees “engaged in misconduct” during sales transactions during a nearly two-year period, following a preliminary committee investigation into its sales practices.
As a result, there will be a delay in the release of Evolv’s Q3 financial results, ending Sept. 30, 2024.
In a release, Evolv revealed that an ad hoc committee of independent directors (the committee)...
ADT reports another network breach
October 8, 2024Ken Showers, Managing Editor
BOCA RATON, Fla. — Home security company ADT reported that its network had been illegally accessed in a filing with the U.S. Securities and Exchange Commission early this week.
An ADT spokesperson told Security Systems News (SSN): “We are investigating a cyberattack on our network. For more information, we direct you to our Form 8-K disclosure filed with the SEC on Oct. 7.”
In that filing, the company clarified that the data breach occurred as a result of compromised...
Evolv Technology gives regulatory update following SEC request
February 19, 2024SSN Staff
WALTHAM, Mass. – Evolv Technology, a security technology company working with AI-based weapons detection, has provided an update on a request received from the U.S. Securities and Exchange Commission (SEC).
In a release from Evolv it revealed that on Feb. 16, 2024, the SEC notified the company it was initiating an investigation that was described as a confidential “non-public, fact finding inquiry.” Evolv noted the SEC’s explicit guidance that the investigation “should...
Johnson Controls Q1 report reflects tough quarter
January 31, 2024Ken Showers, Managing Editor
CORK, Ireland—Johnson Controls International (JCI) cited a ransomware attack and economic slowdowns in China contributing to tough first quarter 2024 results.
From released documents Johnson Controls (JCI) revealed GAAP earnings per share (“EPS”) from continuing operations of $0.55. Excluding special items, adjusted EPS from continuing operations was $0.51. Sales in the quarter of $6.1 billion were flat compared to the prior year on an as reported basis and declined...
Trust fall
November 29, 2023Ken Showers, Managing Editor
Do you trust tech companies to protect and secure your personal privacy? According to one survey, it appears that a majority of smart home technology users do.
Now I am writing this way too late into the evening, the post-holiday doldrums make for slow or quiet news weeks. So, while I’m brainstorming a topic for this week’s blog and sending some post witching hour emails, I began reading some survey data from an article. It’s not new data, the article is a few months old now,...
Trick or treatise
November 1, 2023Ken Showers, Managing Editor
As promised, I’m going to talk up a particular subject for this week’s Monitoring Matters, and we’re going to discuss lawsuits!
While I write this the witching hour has come to pass and Halloween has run its course for the year, although probably not all the sugar in some of your bloodstreams (shame on you, that was your child’s candy). October went out with a bang however, with a couple of really big announcements for the security industry over the course of the month....
SEC charges SolarWinds, CISO with fraud and internal control failures
October 31, 2023SSN Staff
WASHINGTON, D.C. – The Securities and Exchange Commission (SEC) announced charges against software company SolarWinds and its chief information security officer (CISO), Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities.
A release from the SEC makes note of the complaint which alleges that, from at least its October 2018 initial public offering through at least its December 2020 announcement that it was the target...
Sale of top AI chips to be halted with China per U.S. decree
September 2, 2022Ken Showers, Managing Editor
YARMOUTH, Maine – Multinational American technology company NVIDIA said in a Securities and Exchange Commission filing August 26 that U.S. Government officials are enforcing the restriction of sales for its top AI chips with China.
The move comes as tension continues to grow between the two countries and rising fears of China using the technology for military applications and surveillance applications domestic and abroad. On the chopping block of note are the company’s A100, H100,...
Johnson Controls announces prices for senior notes offering
August 26, 2022SSN Staff
CORK, Ireland – Fire, HVAC, and building security equipment provider Johnson Controls has announced the pricing on its senior notes offering.
According to the company’s official release, the pricing of its offering is at €600 million senior notes due 2028. The company said that net proceeds will be used for general purposes, including debt repayment, but could include acquisitions, repurchase of ordinary shares, additions to working capital and other corporate purposes. “Tyco...
Brinks Home Security to file Form 15 with SEC, end public trading of stock
January 26, 2021SSN Staff
DALLAS—Brinks Home Security, a home security and alarm monitoring company, announced that it intends to voluntarily deregister its common stock under the Securities Exchange Act of 1934, ending the public trading of its common stock.
In the announcement Brinks said it intends to file “post-effective amendments to its outstanding registration statements on Form S-3 and S-8 to deregister unsold securities thereunder, with the U.S. Securities and Exchange Commission (SEC) no earlier than...