Group 1 Automotive Adopts New Measures After CDK Global Cyber Incident
Portfolio Pulse from Benzinga Newsdesk
Group 1 Automotive (NYSE:GPI) has activated its cyber incident response procedures following a cybersecurity incident at third-party software provider CDK Global. The incident has disrupted Group 1's U.S. operations that rely on CDK's systems. Group 1's U.K. operations remain unaffected. CDK anticipates restoring its dealer management system within several days.
June 24, 2024 | 10:17 am
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Group 1 Automotive's U.S. operations have been disrupted due to a cybersecurity incident at CDK Global. The company has activated its cyber incident response and is using alternative processes. U.K. operations are unaffected. CDK expects system restoration in several days.
The disruption in Group 1's U.S. operations due to the CDK Global cyber incident is likely to have a short-term negative impact on GPI's stock price. The company's proactive measures and the unaffected U.K. operations may mitigate some of the negative effects, but uncertainty remains until CDK's systems are fully restored.
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