SEC charges SolarWinds and exec with fraud after massive cybersecurity breach

The Securities and Exchange Commission on Monday charged software provider SolarWinds Corp. and its chief information-security officer with fraud and the failure to fully disclose cybersecurity weaknesses, following a historic cyberattack disclosed in 2020 that was purportedly backed by Russia.

The SEC’s complaint alleged that despite warnings from employees, Brown “failed to resolve the issues or, at times, sufficiently raise them further within the company.” The agency is seeking civil penalties and an officer and director bar against Brown. “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 representative continued.

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