M. Natasha Labovitz was vacationing in New England in August 2014 when the bad news came: A just-completed debt refinancing for longtime client Altegrity Inc. was in trouble. Altegrity’s USIS background-screening division had been hit with cyberattacks, leading to massive breaches of U.S. Department of Homeland Security data, and the federal agency had suspended its contract with USIS.
The suspension cost Altegrity a third of its revenue, threatening a default that could have brought down the whole company, including two other divisions: investigations firm Kroll Inc. and employee screening company HireRight LLC. “When USIS was unable to deliver its part of the revenue, Kroll and HireRight would have defaulted on their debt if we couldn’t renegotiate it,” Labovitz says.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
