A federal judge dismissed part of an SEC lawsuit against SolarWinds and its Chief Information Security Officer, Tim Brown. The lawsuit involved SolarWinds handling of a 2020 cyber breach affecting U.S. government agencies. Ultimately, the judge ruled the SEC’s claim that SolarWinds didn’t fully disclose the cyberattacks’ impact on shareholders was based on “hindsight and speculation.” However, the lawsuit will turn to Solarwinds’ pre-breach of cybersecurity disclosures. Since this lawsuit, the SEC has new rules for when and how companies must disclose cyberattacks. https://www.wsj.com/articles/solarwinds-defeats-part-of-secs-fraud-case-over-hack-ec69169a
SolarWinds Defeats Part of SEC’s Fraud Case
