Dish Network (NASDAQ:DISH) admitted Tuesday that a network outage spanning multiple days last week was in fact the result of a cybersecurity breach of its internal communications systems and customer-facing support sites.
That’s a shift from the tone the television provider took on its earnings call last week, when it called the outages an internal issue.
“Certain data was extracted,” the company acknowledged in a statement Tuesday.
Adding insult to injury, a note from Bank of America issued a rare double downgrade for Dish stock.
BofA analysts predicted shares could fall more than 20%, according to reports.
In the short term, Dish shares tumbled more than 6% to $11.44 on Tuesday.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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