Uber Continues To Court Controversies - Accepts Accountability For Concealing 2016 Data Breach - Uber Technologies (NYSE:UBER)

Uber Technologies, Inc UBER accepted responsibility for covering a 2016 data breach compromising 57 million passengers and drivers, Reuters reports.
Uber admitted that its personnel failed to report the November 2016 hacking to the U.S. Federal Trade Commission despite probing into the ride-sharing company's data security.
U.S. Attorney Stephanie Hinds in San Francisco said Uber waited about a year to report the breach after installing new executive leadership.
Hinds said the decision not to criminally charge Uber reflected new management's prompt investigation and disclosures and Uber's 2018 agreement with the FTC.
Uber also cooperated with the prosecution of a former security chief, Joseph Sullivan, over his alleged role in concealing the hacking.
In September 2018, Uber paid $148 million to settle claims by all 50 U.S. states and Washington, DC, that it was too slow to disclose the hacking.
Recently Uber reached a multi-million-dollar settlement agreement with the Department of Justice for wrongfully charging wait-time fees to passengers with physical disabilities.
Price Action: UBER shares traded higher by 1.16% at $23.57 in the premarket on the last check Monday.
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