SEC settlement documents or company disclosures detailing penalty amounts

SEC Settles with Unisys, Avaya, Check Point, and Mimecast Over SolarWinds Hack Disclosure Negligence with Civil Penalties

Nov 1, 2024, 12:23 PM

The U.S. Securities and Exchange Commission (SEC) has reached settlements with four technology companies—Unisys, Avaya, Check Point, and Mimecast—over allegations of negligent public disclosures related to the SolarWinds cyberattack. The SEC accused these companies of downplaying the impact of the hack in their communications with investors. As part of the settlement, all four firms will pay civil penalties, although the specific amounts have not been disclosed. This action is part of a broader initiative by the SEC to enforce stricter regulations on misleading cybersecurity disclosures, reflecting an increasing focus on data privacy and security in the technology sector.