SolarWinds claims SEC cybersecurity suit is baseless – seeking dismissal

SolarWinds has requested the dismissal of a lawsuit filed by the US Securities and Exchange Commission (SEC) that alleges the software company misrepresented its cybersecurity protections to investors. SolarWinds argued that it disclosed risks prior to a Russian state hack of its Orion platform and properly informed investors about the breach’s potential impact. The company and its Chief Information Security Officer are challenging the SEC’s enforcement action, claiming that it would expand the agency’s powers and require impractical and dangerous disclosure of internal cybersecurity details. SolarWinds is the first public company executive to face SEC charges related to cybersecurity.