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Corporate Governance SolarWinds Securities Regulation

McDermott Will & Emery

SEC Settlements Signal Increased Scrutiny of Cybersecurity Disclosures

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On October 22, 2024, the US Securities and Exchange Commission (SEC, or Commission) brought settled actions against four publicly traded companies that were downstream victims of the Russia-linked cyberattack on SolarWinds...more

Ropes & Gray LLP

SEC Announces Settlements with Four Issuers regarding Cybersecurity Disclosures

Ropes & Gray LLP on

On October 22, 2024, the Securities and Exchange Commission (“SEC”) filed settled enforcement orders involving four current and former public companies – Unisys Corp., Avaya Holdings Corp., Check Point Software Ltd, and...more

Steptoe & Johnson PLLC

New York Federal Court Refuses to Extend Accounting Controls Requirements to Cybersecurity Controls

Section 13(b)(2)(B) of the Securities Exchange Act of 1934 requires public companies to “devise and maintain a system of internal accounting controls.” In a recent opinion, a New York federal court rejected the Securities...more

Skadden, Arps, Slate, Meagher & Flom LLP

Takeaways From the Dismissal of SEC Claims Against SolarWinds and Its CISO

The U.S. District Court for the Southern District of New York has dismissed many of the Securities and Exchange Commission’s (SEC’s) claims against software development company SolarWinds and its chief information security...more

Jenner & Block

Client Alert: The SEC’s Approach to Cybersecurity Disclosure Decisions

Jenner & Block on

The SEC’s Director of Corporation Finance, Erik Gerding, recently issued two statements regarding a public company’s disclosure obligations in response to a cybersecurity incident. These remarks follow the adoption of the...more

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