
Payoneer Global Inc. (PAYO)
Whether directors and officers of Payoneer Global Inc. (PAYO) breached their fiduciary duties to the company and its shareholders.
Investigation
10/04/2021
Resolution
10/05/2021
Investigation regarding Facebook’s major worldwide outrage around the world on October 4, 2021 causing a decrease in market capitalization and stock price.
10/04/2021
Users, newspapers, social media platforms report around the world a major outage of Facebook’s products (Facebook, Instagram, Messenger, Oracle, WhatsApp…). While the reason is unclear, the stock price has been impacted throughout the day on higher than usual trading volume.
Guesses range from domain name system (DNS) issues, to cyberattacks, to reasons related to the recent whistleblower claims and a release of internal documents by the Wall Street Journal.
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$326.23 | $343.01 | $-16.78 | -4.89% |
We have marked this investigation as closed.
On 10/05/2021 the company issued the following statement:
Our engineering teams have learned that configuration changes on the backbone routers that coordinate network traffic between our data centers caused issues that interrupted this communication. This disruption to network traffic had a cascading effect on the way our data centers communicate, bringing our services to a halt. [. . .]
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