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If you are a security professional then I strongly recommend you register and review the Law360 article on SolarWinds. A US judge has kept open an investor suit against the company, following allegations from SolarWinds investors that the software firm misled them about its digital defenses before a massive cyberattack, citing a company executive’s frequent touting of the business’s security posture. A posture that evidence in the article highlights as security failures.
I think this case is important for CISOs, security professionals and the board. As in the latest judgement the judge removed the former SolarWinds CEO from the indictment on the grounds that they were not an authority on cybersecurity. The judge kept alive securities fraud claims against the now CISO, citing that The court finds that plaintiffs sufficiently plead that defendant Brown acted with, at least, severe recklessness when he touted the security measures implemented at SolarWinds, The Judge wrote.
For security professionals I think this is an important read, as it highlights the litigation challenges CISOs face. Managing cybersecurity posture, the response to an incident and the response to the media and markets.
Ted Dziekanowski
#cybersecuirty #cyberriskmanagement #risk #legalcyber #legal #insurance #cyberinsurance
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