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SEC Charges SolarWinds and CISO with Fraud and Cybersecurity Failures

1 min read
Source: SEC.gov
TL;DR

The Securities and Exchange Commission (SEC) has charged software company SolarWinds and its chief information security officer, Timothy G. Brown, with fraud and internal control failures related to cybersecurity risks and vulnerabilities. The complaint alleges that SolarWinds misled investors about its cybersecurity practices and understated known risks. Internal assessments contradicted the company's public statements, revealing deficiencies in its cybersecurity practices. SolarWinds' stock price dropped following an incomplete disclosure about a cyberattack. The SEC seeks injunctive relief, disgorgement, civil penalties, and an officer and director bar against Brown.

Topics:businessbusinesstech#businesstech#cybersecurity#fraud#internal-control-failures#sec#solarwinds
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  1. SEC Charges SolarWinds and Chief Information Security Officer with Fraud, Internal Control Failures  SEC.gov
  2. SolarWinds charged by SEC for failing to disclose cybersecurity problems  The Washington Post
  3. US SEC sues SolarWinds, top cyber executive for fraud  Reuters
  4. SolarWinds Misled Public on Cyber Risk Before Hack, SEC Claims  Yahoo Finance
  5. View Full Coverage on Google News

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