Unisys settles SEC investigation into cybersecurity incidents for $4M

Unisys (UIS) said it has reached a non-scienter-based administrative proceeding settlement, on a neither admit nor deny basis, with the Securities and Exchange Commission in connection with the SEC investigation the company previously disclosed. The violations relate to the company’s policies, procedures, and risk disclosures related to certain cybersecurity incidents, and cybersecurity incident escalation matters that the Company disclosed in November 2022. This settlement fully resolves the company’s SEC investigation. Unisys “concluded that it is in the best interests of the Company and its stockholders to constructively resolve this matter with the SEC.” Under the terms of the settlement, the company consented to the entry of an order asserting violations of non-scienter-based provisions of the federal securities laws and rules promulgated thereunder and a cease and desist from committing or causing violations of those securities laws. The company agreed to pay within ten days of the entry of the order a $4M civil penalty, which was fully accrued in the company’s 2023 financials.