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Thomas Fox - Compliance Evangelist

Navigating the New Frontier: SEC’s Enforcement Action on RR Donnelley and its Implications for Compliance

In the ever-evolving compliance landscape, the recent enforcement action by the Securities and Exchange Commission (SEC) against RR Donnelley is a significant case study. This incident underscores the importance of robust...more

Holland & Knight LLP

Winds of Change: SEC's SolarWinds Lawsuit Signals Hotter Cybersecurity Enforcement

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The SEC on Oct. 30, 2023, filed a landmark cybersecurity enforcement action against SolarWinds Corp. (SolarWinds) and the company's current Chief Information Security Officer (CISO) Timothy Brown. The SEC's complaint alleges...more

Thomas Fox - Compliance Evangelist

SEC, Solar Winds and Compliance

The recent SEC lawsuit against SolarWinds Corp and its CISO, Tim Brown, following the 2020 data breach, has brought the issue of executive liability in cybersecurity disclosures to the forefront. This case sheds light on the...more

The Volkov Law Group

SEC Sues SolarWinds and its CISO for Fraud Over Botched Data Breach Response, Marking New Era in Cyber Enforcement

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The U.S. Securities and Exchange Commission has a message for publicly-traded companies that suffer a data breach: own up. On Monday, the SEC sued Texas-based SolarWinds––and its Chief Information Security Officer...more

Farella Braun + Martel LLP

Uber’s Former Chief Security Officer Found Guilty of Obstruction for Coverup of Data Breaches

On October 5, 2022, after a monthlong jury trial, former Uber Chief Information Security Officer Joseph Sullivan was found guilty of obstructing proceedings of the Federal Trade Commission (FTC) and misprision of a felony...more

Mayer Brown Free Writings + Perspectives

US Securities and Exchange Commission Increases Focus on Cybersecurity

This past summer’s string of cyber enforcement actions signals that cybersecurity has become a top priority for the US Securities and Exchange Commission (“SEC”). This focus is consistent with the SEC’s Division of...more

Goodwin

2020 Year In Review Securities Litigation Against Technology Companies

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In many ways, 2020 was an unprecedented year. In midMarch, the United States abruptly went into lockdown as coronavirus cases began to spike; a national emergency was declared, travel bans and gathering restrictions were...more

Vinson & Elkins LLP

Individual Criminal Liability For Failure To Disclose Data Breach Establishes A New Level Of Risk For Companies And Executives

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General Counsel and in-house legal departments have long struggled with articulating the risk of and determining the appropriate response to breaches of the company network and the potential exposure of confidential...more

Moore & Van Allen PLLC

SEC Issues Disclosure Guidance as Part of Continued Focus on Cybersecurity

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As cybersecurity attacks have continued to gain prominence as a threat posing critical risk management and compliance challenges for financial institutions, the Securities and Exchange Commission (SEC) has emerged as an...more

Holland & Hart LLP

SEC Issues First Ever Enforcement Action For Failure to Disclose a Data Breach, Obtaining $35 Million Penalty

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The U.S. Securities and Exchange Commission announced on April 24, 2018 that Yahoo! (now known as Altaba, Inc.) agreed to pay a $35 million civil penalty to resolve claims that it failed to appropriately and timely disclose...more

Jones Day

SEC Announces Yahoo Will Pay $35 Million for Failure to Disclose Data Security Incident

Jones Day on

The Situation: The SEC accused Altaba Inc., then known as Yahoo! Inc., of misleading investors by failing to disclose a major data breach orchestrated by Russian hackers. The Result: Altaba has agreed to pay $35 million to...more

Ballard Spahr LLP

The Hacked & the Hacker-for-Hire: Lessons from the Yahoo Data Breaches (So Far)

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The fallout from the Yahoo data breaches continues to illustrate how cyberattacks thrust companies into the competing roles of crime victim, regulatory enforcement target and civil litigant. ...more

Fenwick & West LLP

Yahoo’s $35M SEC Settlement: Takeaways from the First Enforcement Action for Failure to Disclose a Data Breach

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The U.S. Securities and Exchange Commission announced on April 24, 2018, that Yahoo! — now known as Altaba — agreed to pay a $35 million penalty to settle claims that the company failed to timely disclose a 2014 data breach...more

Dorsey & Whitney LLP

Failure to Disclose Leads to $35 Million Penalty in the Yahoo! Cybersecurity Breach

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The Securities and Exchange Commission (the “SEC”) announced Tuesday that Altaba, the entity formerly known as Yahoo! Inc., has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to...more

Patterson Belknap Webb & Tyler LLP

Uber’s Latest Headache

An expanded settlement by the Federal Trade Commission with ride-sharing giant Uber Technologies should serve as a lesson to other businesses about what happens when a company fails to disclose a data breach during an ongoing...more

Carlton Fields

Yahoo Enters $80 Million Securities Class Action Settlement After Data Breach

Carlton Fields on

On March 2, Yahoo, Inc. (“Yahoo”) filed a proposed settlement in In re Yahoo Inc. Securities Litigation, which was filed in U.S. District Court in San Francisco. ...more

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