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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-10-31T17:52:00
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.
A SolarWinds spokesperson said in an emailed statement the company was disappointed by the SEC’s lawsuit and “deeply concerned” the action puts national security at risk. “The SEC’s determination to manufacture a claim against us and our CISO is another example of the agency’s overreach and should alarm all public companies and committed cybersecurity professionals across the country,” the statement read.
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2023-12-11T19:29:00Z By Kyle Brasseur
Businesses seeking additional time before disclosing to the Securities and Exchange Commission the occurrence of a material cybersecurity incident must be prepared to provide detailed information on the matter to the Federal Bureau of Investigation.
2023-11-21T19:27:00Z By Kyle Brasseur
SkiHawk Capital Partners won the dismissal of fraud claims against it, another investment adviser, and their owners and managers by the Securities and Exchange Commission.
2023-07-31T18:43:00Z By Kyle Brasseur
Sen. Ron Wyden (D-Ore.) is calling on federal agencies to hold Microsoft accountable for “negligent cybersecurity practices” that played part in a Chinese hacking campaign that targeted U.S. government email addresses.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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