Call us now:
This is one to watch, as things look to get more interesting for SolarWinds. On the upside, SolarWinds has reached a settlement with investors following the 2020 cyber attack, that should bring some relief to the company and CISO. (https://lnkd.in/eciezNmw)
On the down side, the Securities and Exchange Commission (SEC) has issued SolarWinds with a Wells notice. My understanding is that a Wells Notice is a notification that the SEC plans to bring enforcement action against the company.
The original Bremer v SolarWinds action above sites in the plaintiffs opinion significant concerns about financial reporting under SoX and poor cybersecurity compliance. Security officers should play close attention to these claims.
The issues for SolarWinds may not have gone away, they may just be charged under a different court.
Ted Dziekanowski
Gerry Kennedy
Rachel V. Rose, JD, MBA
#cybersecurity #securitiesandexchangecommission #cyberlegal #solarwinds #cybergovernance #theaugustagroup
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