SolarWinds Nears Settlement with SEC Over Cybersecurity Vulnerability Allegations

SolarWinds Corp. is preparing to settle a lawsuit with the Securities and Exchange Commission (SEC) regarding allegations of prolonged cybersecurity vulnerabilities within the company. This development comes nearly three years after a significant malware attack in December 2020 highlighted critical weaknesses. The SEC had initially claimed that SolarWinds, along with its chief information security officer, Tim Brown, neglected these vulnerabilities, but the case’s impact was reduced following a court decision last year. The ruling stated the SEC’s authority over accounting controls did not extend to cybersecurity. For further details, visit the full article on Law.com.