SolarWinds will contest a lawsuit brought by the Securities and Exchange Commission (SEC) against it and its chief information security officer (CISO) alleging fraud and internal control failures related to the software company’s cyberattack reported in 2020.
The SEC announced charges against SolarWinds and CISO Tim Brown on Monday for “defraud[ing] investors by overstating SolarWinds’ cybersecurity practices and understating or failing to disclose known risks.” The agency is seeking permanent injunctive relief, disgorgement with prejudgment interest, civil penalties, and an officer-and-director bar against Brown in its litigation.
