On October 22, 2024, the U.S. Securities and Exchange Commission (“SEC” or “Commission”) issued a series of orders imposing almost $7 million in disclosure fines against four global digital service providers impacted by the 2020 SolarWinds compromise. The SEC accused each defendant of negligently making misleading cybersecurity statements to investors in light of the incident.
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SEC statement clarifies material cybersecurity incident disclosure requirement
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