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Most experts agree that, regardless of the lawsuit’s outcome, it could affect how companies handle cybersecurity risks. In July, the agency adopted new cybersecurity disclosure requirements set to take effect in December. They require companies to report material attacks within four days and to make yearly disclosures about their cybersecurity risk management, strategy and governance. In a June speech, the S.E.C.’s enforcement director, Gurbir Grewal, said it had “zero tolerance for gamesmanship” around cybersecurity disclosures. No CISO can now risk basically painting an unrealistically positive picture of cybersecurity.”
Persons: Gurbir Grewal, ” Wolff, , Ramakrishna, it’ll, , Jake Williams, CISOs Organizations: cybersecurity
"We allege that, for years, SolarWinds and Brown ignored repeated red flags about SolarWinds' cyber risks, which were well known throughout the company," SEC enforcement director Gurbir Grewal said in a press release. SolarWinds went public in 2018, and made only "generic" disclosures about cybersecurity risk in both its prospectus and in continued filings, the complaint said. However, the SEC alleged that SolarWinds and Brown knew that the company's cybersecurity practices were weak, pointing to an internal presentation from Brown that was made the same month SolarWinds went public. It appears to be one of the first times the SEC has alleged a company misled and defrauded investors over cybersecurity risks. In reality, Brown knew that the company was not following those best practices, the SEC alleged.
Persons: SolarWinds, Tim Brown, Brown, Gurbir Grewal, weren't, Solarwinds, Kevin Thompson, Sudhakar Ramakrishna, Mr, Alec Koch Organizations: SolarWinds Corp, New York Stock Exchange, Securities and Exchange Commission, SEC, software, Orion, unf, Regulators, MGM Resorts, CNBC Locations: New York, U.S, Russian, Clorox, SolarWinds
The US Securities and Exchange Commission has informed current and former SolarWinds executives that it intends to recommend “civil enforcement action” alleging the company broke federal securities laws in its public statements and “internal controls” related to the hack, SolarWinds said in a filing with regulators on Friday. The SEC notice is an indication that US regulators are moving closer to bringing a civil lawsuit against SolarWinds that could result in fines or other penalties. For several months in 2020, hackers used software made by SolarWinds and other technology firms to burrow into US government agencies and corporate victims in an apparent spying campaign. After the hack became public, US lawmakers demanded answers from federal cybersecurity officials on why the hackers were undetected for so long, as well as criticized SolarWinds for its security practices prior to the hack. But SolarWinds says it has instituted numerous security reforms in the years since the hack, and has pushed that message of reform in public appearance with federal officials.
Persons: SolarWinds, , Biden, , , Sudhakar Ramakrishna, SolarWinds “, ” Ramakrishna Organizations: CNN, US Securities and Exchange, Justice, Homeland Security, SEC Locations: Russian, ” Austin , Texas, Moscow
CHITTOOR, India, March 1 (Reuters) - India's Andhra Pradesh state has launched an investigation into what caused a fire at the factory of Apple (AAPL.O) supplier Foxlink that led to the collapse of part of the building and disrupted production, a government official said on Wednesday. The factories department, which is responsible for ensuring the safety and welfare of workers in the state, has launched an investigation. The department is "investigating the fire accident at Foxlink factory and, over the next couple of days, is looking to probe how the fire happened," Ramakrishna Reddy, deputy chief inspector of factories, told Reuters. Foxlink on Wednesday said it is investigating the cause of the fire and "working hard to resume production". The incident has raised supply chain concerns for the U.S. tech giant Apple, given Foxlink was a "key supplier" in India, Reuters has reported.
The woman wrote to the judge overseeing Shah's case that she'd had to remortgage her house, almost divorced, and "thought about ending my own life." The couple decided that he should get his degree while Jen Shah dropped out of college to work. (Shah told a judge at her 2022 plea hearing that she had been treated for "alcohol and depression" two years prior. Koa Johnson, Jen Shah's former fashion designerWhen Sharrieff Shah did participate in filming, he quickly became a fan favorite, calm and sensible. Once the show aired and Jen Shah developed a fan base, her behavior became more dramatic, Johnson said.
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