Cyber woes: Expeditors has only 'partially resumed operations'...

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In a 8-K SEC filing released yesterday, Expeditors provided more details about a cyber-attack that is understood to have taken place 12 days ago.

(Its previous official update was on 28 February.)

Adding that “in keeping with its business continuity plans, the company is making progress in returning to normal operations”, as it also noted in its previous update, its workforce is “now handling shipments and providing services across most products and expanding recovery across its locations”.

Moreover, it reiterated that it “is incurring significant expenses to incorporate business continuity systems and to investigate, remediate and recover from this cyber-attack” – and it expects to continue to incur higher cyber security expenses in the future.

It has “partially resumed operations” now and expects “to bring additional systems online”. However, “at this time the company is unable to estimate when it will resume full operations”.

Also, “at this early stage, the company is unable to estimate the ultimate direct and indirect financial impacts of this cyber-attack.”

For the record, “upon discovering the incident,” the 3PL shut down “most of its operating systems globally to manage the safety of our overall global systems environment”.