Morrisons share price: Employee arrested over payroll data leak

on Mar 17, 2014
Updated: Apr 9, 2020
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iNVEZZ.com, Monday, March 17: Wm Morrison Supermarkets (LON:MRW) has revealed that an employee of the company has been arrested in connection with a major theft of data from its staff payroll system.

Detective Chief Inspector Gary Hooks of Protective Services (Crime) confirmed today: “An employee of Morrisons has been arrested in Leeds this morning in connection with an investigation into the theft of data from the company. He is currently in custody.”
Britain’s fourth-largest grocer said it was continuing to work with West Yorkshire Police on the investigation. Detectives were called in after payroll data was stolen from the Yorkshire-based supermarket chain on Thursday (Morrisons share price: Grocer suffers from huge payroll data theft).

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The data, thought to include the bank account details, names and address of up to 100,000 staff, was offered on a disk to a newspaper and published on a website. Morrisons said the data theft affected staff from all levels of the organisation including the board, but would not comment on whether CEO Dalton Philips was among them.
On Friday, the supermarket chain ensured the data was taken off the website and said it did not believe it had been the victim of an external cyber attack, implying the data was likely leaked by an employee. The firm has since purchased support from Experian (LON:EXPN) which detects misuse of colleague information and protects against identity fraud.

The theft was seen as a fresh blow to Morrisons, coming a day after the grocer reported a £176 million annual loss and issued a profits warning, sending its shares down 12 percent (Morrisons share price: Grocer triggers industry price war)

***Bearish sentiment still weighing on Morriosns share price***
Morrisons share price has continued to fall today. As of 13:15 UTC, the stock was 0.64 percent down at 206.60p. The supermarket chain has lost more than 11 percent since releasing its annual results on Thursday.
According to AnalystRatingsNetwork data, 14 research analysts have a ‘sell’ rating on Morrisons, eight have it as a ‘hold’, and four are calling it a ‘buy’. The stock’s consensus rating is ‘hold’ with an average price target of 243.23p.
**As of 13:06 UTC, buy Morrisons shares at 206.50p.**
**As of 13:06 UTC, sell Morrisons shares at 206.30p.**

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