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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-11-04T18:43:00
SolarWinds revealed the Securities and Exchange Commission (SEC) is examining cybersecurity disclosures and public statements the company and its executives made after its massive 2020 data breach caused by hackers backed by the Russian government.
SolarWinds disclosed Thursday in a Form 8-K the SEC sent it a Wells Notice informing the company the agency intends to file an enforcement action “alleging violations of certain provisions of the U.S. federal securities laws with respect to its cybersecurity disclosures and public statements, as well as its internal controls and disclosure controls and procedures.” There was no additional information available about what the alleged violations were.
In the same disclosure, SolarWinds disclosed it entered into a binding settlement term sheet with class-action litigants to offer $26 million to settle a lawsuit related to harms caused to SolarWinds customers because of the breach. The settlement would “fund claims submitted by class members, the legal fees of plaintiffs’ counsel, and the costs of administering the settlement.”
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2023-10-31T17:52:00Z By Kyle Brasseur
SolarWinds will contest a lawsuit brought by the Securities and Exchange Commission against it and its chief information security officer alleging fraud and internal control failures related to the software company’s cyberattack reported in 2020.
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.
2023-02-15T21:02:00Z By Adrianne Appel
Cyberattacks on software are increasing, and the best chance organizations have of protecting themselves is to know about potential vulnerabilities through a software bill of materials, CISA Strategist Allan Friedman shared at CW’s virtual Cyber Risk & Data Privacy Summit.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor over $1 trillion worth of customer transactions.
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