Bankrupt only? It should also be criminal negligence. Until some exec goes to jail, this kind of stuff will keep happening. Someone was (likely is...) making good profit out of this business by not investing in IT security. They cheaped out, and other people paid the price, who didn't have anything to do with the profit of the company. Watch out for the execs going around in a few years giving talks about how to build a successful company. If we let this kind of behaviour have zero repercussions, the public will continue to pay the price of private profits.