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SEC Brings Landmark Cybersecurity Disclosure Lawsuit Against Solarwinds and Its CISO | Bryan Cave Leighton Paisner

The SEC has filed charges against SolarWinds and its CISO for violation of antifraud provisions, failure to disclose known cybersecurity vulnerabilities, and aiding with the company’s violations. These charges come just prior to the SEC’s new cybersecurity rules taking effect, reflecting the SEC’s increased focus on cybersecurity. The SEC alleged that SolarWinds concealed its weak cybersecurity practices, leading to a cyberattack which affected government agencies, banks, and other entities.

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