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New York Federal Judge Dismisses Most of SEC's Lawsuit Against SolarWinds

Jul 18, 2024, 04:38 PM

A federal judge in New York has dismissed substantial portions of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against software company SolarWinds. The lawsuit accused SolarWinds of defrauding investors by hiding security weaknesses before and after a massive cyberattack that targeted the U.S. government. The judge's decision significantly weakens the SEC's case, leaving only one charge standing against the company. The dismissed lawsuit centered on allegations that SolarWinds misled investors about its cybersecurity practices and the impact of the data breach involving its Orion software.