Australia's IPH falls most in over 3 years on detecting breach in IT systems

IPH

15/03/2023 23:53

** Shares of IPH Ltd  IPH.AX  slump as much as 12.3% to
A$7.360, posting their biggest intraday pct drop since Feb 25,
2020
    ** The intellectual property services provider says it has
detected unauthorised access to a portion of its IT environment
    ** Says breach primarily limited to document management
systems of its head office and two of its member firms
    ** Says information in document management systems include
administrative documents, and some client documents and
correspondence in case of the two member firms
    ** IPH says it was working with external cyber security
advisers to conduct a forensic investigation
    ** Shares touch their lowest level since June 22
    ** IPH stock on track for a third consecutive session of
losses
    ** Stock has fallen 3.9% YTD as of last close

    

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