Update: LinkedIn Admits Passwords Were Breached

As reported earlier, LinkedIn LNKD was rumored to have had some of its users' passwords compromised. Now, the company has confirmed this rumor. As per the company's website:

"We can confirm that some of the passwords that were compromised correspond to LinkedIn accounts. We are continuing to investigate this situation." LinkedIn is working on fixing the problem and is contacting all users who's accounts have been compromised.

The company warns that any email they send will not have a link for users to change passwords. Rather, it will have instructions on how to do so. " For security reasons, you should never change your password on any website by following a link in an email."

LinkedIn is marginally higher on the day, up about $.16 today, having traded as low as $91.58 and as high as $94. The stock is down approximately 23% from its 52-week high of $120.63, which it hit on May 4th.