By Jennifer DePasqualeBloomberg Shareholders in the nation’s largest FedEx service provider are calling on the company to disclose its data breach investigation and how it’s protecting its customers.
FedEx is facing growing public scrutiny over data breaches and a public audit into its stock trading, but the company has been slow to disclose the details of its investigation, including how it was secured.
The call from investors is part of a broader push to get FedEx to share more information about the breach and how much of the breach it was.
The U.S. Postal Service (USPS) has also disclosed data breaches involving more than 50 major companies.
“We have been very slow to share details about this investigation,” said Mark Wahlberg, the chief executive officer of the Chicago-based investor relations company Consumer Reports.
“We have heard reports from customers that their FedEx account numbers were stolen, their email passwords were stolen.
The information we are hearing about is a lot of bad news for our customers.
That should concern all of us.”
The companies called on FedEx to explain the scope of the data breach and disclose its response to its customers’ questions and complaints.
“The Federal Trade Commission is reviewing this and has requested that FedEx provide additional information on its response and the scope and nature of the information that was stolen, stolen by a foreign nation,” said Mary Schmalf, a spokeswoman for the agency.
The calls come after FedEx’s stock plunged about 6 percent in premarket trading Monday after the company said it discovered hackers had gained access to the company’s customer database and had accessed customers’ email and payment information.
The company has so far said it has no evidence of unauthorized activity.
The FTC has opened an investigation into the matter, according to a news release from the agency Monday.
FedEx has declined to say how much data was stolen from its customer database.
In a letter to the SEC last week, FedEx said it is cooperating with the probe and has committed to improving cybersecurity.
Fedex said it’s committed to working with regulators and stakeholders to identify solutions that can help customers remain confident in the security of their data.
“While we do not yet know the full extent of the incident, the information we have so far suggests that there was significant breach of the company security processes,” the company wrote in a letter obtained by Bloomberg News.
“In addition, it appears that some of the security breaches were targeted at individuals with access to data stored in the company system, which may have included customers who may have provided sensitive information to a third party.”
The FTC is expected to release its final report on the matter by the end of this month.
FedEX has faced criticism from its investors and some lawmakers in Congress over the way it has handled the breach.
The company’s stock fell more than 10 percent in the weeks after the breach was reported.
FedEyes, which manages about $40 billion in assets, has called on the Postal Service to provide more information to shareholders.
In the letter, the company called for a thorough investigation into how the breach occurred and for FedEx to provide the details.
“FedEx’s own actions have undermined the confidence of its customers, investors and the wider U.A.E. community in its ability to safely protect the information it stores on behalf of its nearly 70 million customers,” the letter reads.