Brookfield Business Partners L.P.

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Investigation Details

Brookfield purchased CDK Global (“CDK”), a provider of software to car dealerships, for $6.41 billion in April 2022. The Company’s CDK unit announced on June 19, 2024, that it was investigating a cyberattack that resulted in it proactively shutting down all of its systems. This action caused massive disruption for car dealerships across North America. CDK later admitted the cyberattack and also that it was hacked a second time as it tried to restore its services. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.