Insurance? I wonder and seriously hope... they had a proper cyber insurance policy in place. If not, their broker should have offered them the coverage, but if it wasn’t offered, that’s a huge Error on the brokers part and could lead to a lawsuit against the broker, and PTQ could get some of the money back by suing their insurance broker. But if they were offered the policy and they refused it, and this blunder affects the companies performance going forward this could lead to a class action lawsuit against the entity and its D&O’s, because they didn’t have the right insurance coverage in place.
Very unfortunate news because like many I have had high hopes for this one and am holding a substantial position!!