Item 1.05
Material Cybersecurity Incidents.
On April 14, 2024, Frontier Communications Parent, Inc. (the "Company") detected that a third party had gained unauthorized access to portions of its information technology environment. Upon detection, the Company initiated its previously established cyber incident response protocols and took measures to contain the incident. As part of this process, the containment measures, which included shutting down certain of the Company's systems, resulted in an operational disruption that could be considered material. Based on the Company's investigation, it has determined that the third party was likely a cybercrime group, which gained access to, among other information, personally identifiable information.
As of the date of this filing, the Company believes it has contained the incident and has restored its core information technology environment and is in the process of restoring normal business operations.
The Company continues to investigate the incident, has engaged cybersecurity experts, and has notified law enforcement authorities. The Company does not believe the incident is reasonably likely to materially impact the Company's financial condition or results of operations.
Cautionary Statement Concerning Forward-Looking Statements
This Current Report may contain "forward-looking statements" related to future events. Forward-looking statements address the Company's expectations or beliefs concerning future events, including the Company's investigation of and containment efforts related to the unauthorized access to its information technology environment, the identity of the party that gained unauthorized access, the restoration of the Company's information technology environment and business operations and the impact on the Company's financial condition and results of operations. These statements are made based on management's views and assumptions as of the date of this report. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. The Company does not intend, nor does it undertake any duty, to update any forward-looking statements, except as required by law. A wide range of factors could materially affect future developments and performance, including but not limited to uncertainties related to the Company's ongoing investigation of the unauthorized access and the possibility that the Company's containment efforts may be unsuccessful, as well as the risks and other factors contained in the Company's filings with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K.