January 29, 2024 at 03:55PM
SolarWinds, victim of Russian cyber-attack, accuses SEC of unfair treatment. The company argues the watchdog’s charges are baseless and seek to impose unreasonable cybersecurity disclosure requirements. SolarWinds maintains it made proper and accurate disclosures before and after the attack. The SEC alleges that SolarWinds misled investors about its security practices, leading to compromise of 18,000 organizations, including US government agencies.
The meeting notes provide a summary of SolarWinds’ response to a lawsuit filed by the SEC regarding the 2020 cyberattack on its network monitoring software. SolarWinds has accused the SEC of unfairly targeting the company and its CISO, Tim Brown. SolarWinds claims that it made proper and accurate disclosures before and after the cyberattack and should not be held accountable for the incident. The company’s attorneys argue that the SEC’s claims are unfounded and that the management did not make any materially misleading statements. Additionally, they defend Brown’s actions during the events in question and criticize the SEC’s charges against him. The SEC has not responded to these claims.