Sony Still Trying To Recover From Attack

In the latest bit of news dribbling out of Sony Pictures, Reuters is reporting that Sony has requested an extension of the required financial filings from mid February to the end of March.

Sony is saying that their financial and accounting applications will not be working until early February.

For those of you keeping track, the attack started on November 24th of last year.  Early February will put the recovery at 10 or 11 weeks just to get the systems back online.  Then comes the task of catching up on 10+ weeks of lost work for thousands of employees.

Sony did say, according to Reuters, that they will hold a news conference on February 4th.  It will be interesting to see if they announce a charge against earnings for the cost of the breach at that time or if they wait until March 31st when they will file their financials.

The impact on a company of not having any financial systems – and likely many other systems – to manage their business for 2-3 months is significant and we will have to watch to see what the longer term effect is on Sony.

Mitch

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