SEC Charges SolarWinds and CISO With Fraud and Cybersecurity Negligence

The Securities and Exchange Commission (SEC) has filed charges against SolarWinds and its Chief Information Security Officer (CISO), Timothy G. Brown, alleging that the company misled investors about its cybersecurity practices and known risks. The charges stem from alleged fraud and internal control failures related to cybersecurity weaknesses that occurred between the company's IPO in October 2018 and the disclosure of the SUNBURST cyberattack in December 2020. The SEC claims that SolarWinds and Brown deceived investors by overstating cybersecurity practices while downplaying or failing to disclose specific risks. SolarWinds denies the allegations and plans to vigorously oppose the SEC's action.