152 million Adobe User Account Stolen from its Data Center or Cloud
LastPass, computer security firm has uncovered data it says belongs to some 152 million Adobe Systems user accounts stolen from its data center, suggesting that a breach reported a month ago is far bigger than Adobe has so far disclosed and is one of the largest on record.
LastPass has found email addresses, encrypted passwords and password hints stored in clear text from Adobe user accounts on an underground website frequented by cyber criminals.
Adobe is continuing to work with law enforcement and outside investigators to determine the cost and scope of the breach, which resulted in the theft of customer data as well as source code to several software titles.
Adobe has notified some 38 million active Adobe ID users and holders of inactive accounts
When I read about this last night, I wondered if this was a good short candidate, but you'd think that any selling would already be factored in. Yet, it doesn't look as though the news had much effect on the price. Hmmm. Any thoughts? The stock trades at a 60+ PE? Why is that?