SolarWinds Seeks Dismissal of SEC Case, Denies Wrongdoing
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SolarWinds denied any wrongdoing in a court filing seeking the dismissal of US Securities and Exchange Commission allegations that its software security representations defrauded investors and violated rules on controls.
SolarWinds argued that it disclosed risks with legally sound specificity before a Russian state hack of its Orion platform and correctly informed investors of the breach’s potential impact during the immediate aftermath.
The public company and Chief Information Security Officer Tim Brown, both named as defendants, are pursuing a rare challenge to the agency’s first-of-its-kind enforcement action, which alleges securities fraud and controls violations. The defendants claim the SEC’s action, if successful, would broaden the agency’s powers …
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