SEC Charges SolarWinds and Chief Information Security Officer with Fraud and Internal Cybersecurity Failures
The Securities and Exchange Commission (SEC) announced charges against SolarWinds Corp. and its chief information security officer (CISO), accusing the publicly traded company of misleading investors as to its vulnerability to cyberattacks. SolarWinds is accused of defrauding investors by overstating its cybersecurity practices, while failing to implement appropriate internal digital safeguards and ignoring red flags for years before announcing that it was the victim of a two-year long cyber attack in December 2020. This landmark lawsuit represents the first time in an SEC cyber case that the commission has alleged that an organization intended to deceive investors. Perhaps even more […]