A federal judge has dismissed a significant portion of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against SolarWinds, which alleged the company and its Chief Information Security Officer (CISO) concealed cybersecurity vulnerabilities. This lawsuit stems from a major 2020 cyberattack that affected over 18,000 customers, including major tech companies and government entities.
The lawsuit, initiated in October 2023 at the Southern District of New York, has been a focal point for many in the cybersecurity sector, particularly concerning the SEC’s increasing oversight of how corporations manage data breaches and communicate cybersecurity risks to shareholders. Notably, Judge Paul Engelmayer’s decision did not dispute the SEC’s inclusion of Tim Brown, SolarWinds’ CISO, as a defendant – a move that has raised concerns throughout the cybersecurity industry.
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