("Pearson" or the "Company")
Statement re SEC settlement
Pearson confirms that it has reached a settlement of an enforcement action with the Securities and Exchange Commission ("SEC") concerning the Company's public disclosures in July 2019 regarding a 2018 data breach in connection with AIMSweb 1.0, a web-based software tool for entering and tracking students' academic performance that was retired in July 2019 in line with a previously scheduled retirement plan. Under the settlement, Pearson has neither admitted nor denied the findings set out in the SEC's order, including the violations. Pearson will be subject to a cease and desist order requiring Pearson not to engage in violations of certain provisions of the federal securities laws and will pay a civil penalty of $1.0 million. In the order, the SEC acknowledged Pearson's cooperation with the SEC staff.