Hackers Breach Top Wall Street Law Firms, Including Cravath Swaine & Moore LLP, Weil Gotshal & Manges LLP

Hackers Breach Top Wall Street Law Firms, Including Cravath Swaine & Moore LLP
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Reuters: Hackers broke into the computer networks of some big U.S. law firms, including Cravath Swaine & Moore LLP and Weil Gotshal & Manges LLP, the Wall Street Journal reported on Tuesday.

Federal investigators are looking to see if confidential information was stolen for insider trading, as these law firms represented Wall Street banks and big companies, the Journal said, citing people familiar with the matter. Other law firms were also targeted, but the probe has not amounted to any clear information on what details have been stolen, the newspaper reported.

The Federal Bureau of investigation and the Manhattan U.S. attorney’s office are investigating the matter, WSJ said.

Hackers have threatened more such attacks in postings on the Internet, the Journal said. Cravath Swaine & Moore and Weil Gotshal & Manges were not immediately available for comment outside regular business hours. Adapted from Huffington Post

In another report by IBT Media on the same incident Cravath told the Journal that the hacking involved a “limited breach” of its systems and that the firm was “not aware that any of the information that may have been accessed has been used improperly.” Weil Gotshal declined to comment, the Journal reported.

According to the report, hackers generally retrieve large amounts of information arbitrarily and then analyze it to see how it could be useful. This makes it difficult for investigators to find out whether any information was used for insider trading, experts told the newspaper.

The FBI also reportedly issued an alert in recently warning law firms about possible attacks. However, the agency did not comment on the issue, according to the Journal

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