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☆ SEC alleges SolarWinds and key executive misled investors about cybersecurity prior to 'massive' cyberattack
▼ + stars: | 2023-10-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +6 min

"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

☆ Reported Ransomware Incidents, Costs Soared in 2021, Treasury Says
▼ + stars: | 2022-11-04 | by ( James Rundle | ) www.wsj.com time to read: +4 min

U.S. banks flagged ransomware-related transactions adding up to more than $1 billion in 2021, the Treasury Department said, although risk experts said that barely scratches the surface of cybercrime’s true economic scale. In 2020, such transactions totaled $416 million across 487 reports. FinCEN is an arm of the Treasury that analyzes financial data to identify money laundering, terrorist financing and other crimes. Reports from the first six months of 2021 alone exceeded the total for all of 2020, FinCEN said, noting that around 75% of incidents in 2021 stemmed from Russia-based cyber actors. Newsletter Sign-up WSJ Pro Cybersecurity Cybersecurity news, analysis and insights from WSJ's global team of reporters and editors.

Companies SolarWinds Corp FollowNov 3 (Reuters) - The U.S. Securities and Exchange Commission has recommended an enforcement action against SolarWinds Corp (SWI.N) over its public statements on cybersecurity and procedures governing such disclosures, the software firm said on Thursday. SolarWinds said Thursday it had received a Wells notice from the SEC alleging the company violated U.S. securities law "with respect to its cybersecurity disclosures and public statements, as well as its internal controls and disclosure controls and procedures." SolarWinds said it will respond to the notice, and "maintains that its disclosures, public statements, controls and procedures were appropriate." Investors sued SolarWinds in 2021, alleging the company and two executives touted cybersecurity measures publicly while prioritizing cost cutting and profit for SolarWinds' two largest investors. The case is Bremer v. SolarWinds Corp et al., No.

☆ U.S. says seven board directors resigned under antitrust pressure
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 19 (Reuters) - Seven directors on the boards of five companies have resigned because of the U.S. Justice Department's concerns over the directors holding similar board positions at rival companies, the department said on Wednesday. Two others representing Thoma Bravo on the SolarWinds board also resigned, the department said. SolarWinds said in a legal filing dated Oct. 14 that the three board members had decided to resign after receiving a letter from the Justice Department alleging that their board service broke antitrust law. A spokesperson for Udemy said a director stepped down on Sept. 23 because of U.S. Justice Department concerns. Directors also resigned from the board of Definitive Healthcare (DH.O), Redwire Corp (RDW.N) and CTS Corp (CTS.N) because they were on the boards of competing companies, the department said.

☆ Joe Biden urmează să anunțe sancțiuni impuse Rusiei, după atacul cibernetic SolarWinds și amestecul în alegerile din SUA
▼ + stars: | 2021-04-15 | by ( ) www.jurnal.md time to read: +2 min

Sursa foto: APJoe Biden urmează să anunțe sancțiuni impuse Rusiei, după atacul cibernetic SolarWinds și amestecul în alegerile din SUAPreședintele SUA, Joe Biden, urmează să anunțe sancțiuni impuse Rusiei, după atacul cibernetic SolarWinds și amestecul în alegerile americane. Printre acestea se numără și expulzarea a zece diplomați ruși și măsuri ce vizează 30 de entități. Sancțiunile vin ca răspuns la atacul cibernetic care afectează software-ul realizat de SolarWinds Corp despre care guvernul SUA a spus că este probabil orchestrat de Rusia. Relațiile au scăzut la cel mai mic nivel de după războiul rece, după ce luna trecută Biden l-a catalogat pe președintele rus Vladimir Putin un ”criminal”. Biden a promis, de asemenea, să ia măsuri în legătură cu decizia Rusiei de a oferit recompense militanților talibani pentru a ucide trupele americane în Afganistan.

Persons: Joe Biden, Președintele, Brad Smith, Ucraina ., Biden, Putin, Vladimir Putin, . Biden, Donald Trump, Dmitri Peskov Organizations: SUA Președintele, americane, Rusia, Președintele Microsoft Locations: Rusiei, SUA, SUA Președintele SUA, Washington, Moscova, Ucraina, Afganistan, Americii

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