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Securities Fraud Cybersecurity Corporate Counsel

Fenwick & West LLP

SEC v. SolarWinds: Court Dismisses the Majority of the SEC’s Securities Fraud Claims

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On July 18, Judge Paul Engelmayer of the Southern District of New York issued a lengthy order dismissing the majority of the SEC’s enforcement case against SolarWinds Corporation (SolarWinds) and its CISO, Timothy Brown. The...more

Foley Hoag LLP - White Collar Law &...

SEC to Continue Aggressive Enforcement Efforts in 2024 After Record-Setting 2023

This is the fourth in our 2024 Year in Preview series examining important trends in white collar law and investigations in the coming year. We will be posting further installments in the series throughout the next several...more

Jenner & Block

Client Alert: The SEC Charges SolarWinds and Its CISO with Fraud: Key Takeaways

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This week, the SEC filed a high-profile litigation asserting fraud and internal controls charges against software company SolarWinds Corporation and its Chief Information Security Officer, Timothy G. Brown, in connection with...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2022

Cornerstone Research reports that during the first six months of 2022, plaintiffs filed 110 securities class actions, a pace that is generally in line — 2.8% higher — with what we saw in the second half of 2021. Looking...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

What Constitutes a Misleading Statement in a Company’s Response to a Data Breach?

Takeaway: To ensure investor safety and emphasize a commitment to user privacy, corporate executives and similarly-situated high ranking officers must not provide any statements or omissions that affirmatively create a...more

Smith Anderson

Marriott Investor’s Security Fraud Claims Arising from Data Breach Rejected by Fourth Circuit

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The Fourth Circuit dismissed an investor’s lawsuit against a hotel chain that had been subject to a data breach, ruling that the company had not made false or misleading public statements about its protection of customer...more

A&O Shearman

SEC Commissioner’s Dissent Highlights Challenges in Responding to Whistleblowers

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On Tuesday, April 12, the U.S. Securities and Exchange Commission (SEC) fined David Hansen, the former Chief Information Officer of NS8, Inc., a Las Vegas-based fraud detection and prevention software firm, approximately...more

Alston & Bird

Recent Updates in Two Closely-Watched Cybersecurity and Privacy-Related Securities Fraud Class Actions

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Observers have been awaiting decisions in a number of cybersecurity and privacy securities fraud class actions with potentially important implications for corporate liability. Over the last several weeks, critical...more

Alston & Bird

California Federal Court Dismisses Data Security-Related Securities Fraud Class Action

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A California federal court has dismissed a putative securities fraud class action alleging that a large title insurer that disclosed a data security incident in May 2019 made false and misleading statements related to its...more

Orrick, Herrington & Sutcliffe LLP

Practical Tips for In-House Counsel From Recent Cybersecurity Decisions

The possibility of a cybersecurity incident—and ensuing litigation—is a fact of life for almost every business. Even companies that do not process or handle consumer information collect personal information about their...more

Sheppard Mullin Richter & Hampton LLP

Court Finds Cybersecurity-Related Claims Sufficient in Securities Class Action

In the aftermath of Equifax’s data breach, a federal court recently found that allegations of poor cybersecurity coupled with misleading statements supported a proper cause of action. In its decision, the U.S. District Court...more

Skadden, Arps, Slate, Meagher & Flom LLP

Cross-Border Investigations Update - January 2019

This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including DOJ guidance on the use of corporate monitors in criminal...more

White and Williams LLP

Corporate Statements About GDPR Spark Securities Class Action Lawsuit

Since the European Union’s General Data Protection Regulation (GDPR) went into effect on May 25, 2018, commentators and analysts have speculated about the regulation’s potential effect on securities class action suits based...more

Troutman Pepper

Even as Data Breaches Continue to Increase, Obstacles Remain for Litigants Seeking to Pursue Securities Fraud and Derivative Suits

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Despite focused media coverage and a steady increase in the number of data breaches involving public companies, there has not been a corresponding increase in shareholder securities fraud and shareholder derivative claims...more

Sheppard Mullin Richter & Hampton LLP

The Numbers Don’t Lie: The SEC Pursues a More Streamlined Enforcement Agenda

One of the most eye-catching items in the recently released 2017 Annual Report of the Enforcement Division of the Securities and Exchange Commission (SEC or the Commission) is the significant decline in enforcement activity...more

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