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SolarWinds must defend against US SEC claims over cybersecurity disclosures before SUNBURST attack, judge rules

( July 18, 2024, 14:56 GMT | Official Statement) -- MLex Summary: SolarWinds and its chief security officer Timothy Brown must defend themselves against some securities fraud allegations by the US Securities and Exchange Commission that claim disclosures about the quality of the company's cybersecurity protections before the 2020 SUNBURST cyberattack were "materially false and misleading in numerous respects," a federal judge in New York has ruled. However, US District Judge Paul A. Engelmayer dismissed the SEC's claims that SolarWind's disclosures after the SUNBURST attack were misleading and insufficient, saying the SEC's allegations for the company's disclosures after the cyberattack "impermissibly rely on hindsight and speculation." See document below....

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