Australia's IPH falls most in more than 5 years on data breach

IPH

16/03/2023 04:37

(Updates share moves and milestones)
    ** Shares of IPH Ltd  IPH.AX  slump as much as 14.1% to
A$7.21, posting their biggest intraday pct drop since Feb 15,
2018
    ** Intellectual property services provider says it has
detected unauthorised access to a portion of its IT system
    ** Says breach primarily limited to document management
systems of its head office and two of its member firms
    ** Says information in document management systems includes
administrative documents, and some client documents and
correspondence in case of the two member firms
    ** IPH says working with external cyber security advisers to
conduct a forensic investigation
    ** Shares touch their lowest since June 21
    ** Trading volumes more than 4 times the 30-day average,
with about 2.4 mln shares traded so far
    ** IPH stock down for a third consecutive session
    ** Stock had fallen 3.9% YTD, as of last close
   

 (Reporting by Echha Jain and Harshita Swaminathan in Bengaluru)
 ((Echha.jain@thomsonreuters.com))