The SEC is suing American IT corporation, SolarWinds, for concealing “known risks” to the company. According to the director of the SEC’s enforcement division, Gurbir Grewal, “We allege that, for years, SolarWinds and Brown ignored repeated red flags about SolarWinds’ cyber risks, which were well known throughout the company…” This allegation stems from a cyber-attack in 2020, where Russian hackers exploited SolarWinds’ software to spy on global business and the government. Prior to the attack, SolarWinds chief information security officer Tim Brown knew that the security was “in a very vulnerable state.” Brown even took a complaint from an engineer about suspicious customer activity.
https://www.ft.com/content/44d1ec79-e6af-4b3f-a701-838777f871b5