Investing
SolarWinds executives receive Wells notice from US SEC
© Reuters. FILE PHOTO: The SolarWinds logo is seen outside its headquarters in Austin, Texas, U.S., December 18, 2020. REUTERS/Sergio Flores
(Reuters) -SolarWinds said on Friday some of its former and current executives had been issued a Wells notice by the U.S. Securities and Exchange Commission over a massive 2020 data breach tied to the software firm.
A Wells notice does not necessarily mean that recipients have violated any law. The SEC issues Wells notices to firms when it is planning to bring enforcement action against them.
“We are cooperating in a long investigative process that seems to be progressing to charges by the SEC against our company and officers,” a SolarWinds spokesperson said in an emailed statement.
“SolarWinds has acted properly at all times by following long-established best practices for both cyber controls and disclosure,” the spokesperson said.
The company was at the center of a cybersecurity crisis in December 2020, when hackers compromised SolarWinds software updates and used them to access data of thousands of companies and government offices that used its products. The U.S. government has attributed the hack to Russia.
In November last year, the SEC recommended an enforcement action against the software firm over its public statements on cybersecurity and procedures governing such disclosures.
Read the full article here
-
Side Hustles6 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing6 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles7 days ago
How to Be Unapologetically You and Why It Matters
-
Side Hustles7 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool
-
Side Hustles6 days ago
Meta Previews Movie Gen, AI Tools That Turn Dreams to Videos
-
Investing4 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Passive Income7 days ago
How AI-Driven Personalization Is Transforming the Retail Industry
-
Investing6 days ago
BCA says investors should fade the real estate rally By Investing.com