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Enforcement Actions Cybersecurity Publicly-Traded Companies

Holland & Knight LLP

Settlement Alert: The Dust Settles in SEC's Cybersecurity Lawsuit Against SolarWinds

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In a significant turn of events on July 2, 2025, the SEC, SolarWinds Corp. and its Chief Information Security Officer (CISO), Timothy Brown, announced through a joint letter to the U.S. District Court for the Southern...more

Woodruff Sawyer

Whiplash: The (Brief and Tragic?) Life of the SEC’s Cyber Disclosure Rules

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In 2023 and 2024, our public company clients were focused on complying with the SEC’s cyber disclosure rules—and on the risk from big, high-profile government enforcement actions like the SolarWinds case. But with a new SEC...more

Polsinelli

Recent Developments Relating to the SEC’s Cybersecurity Disclosure Requirements

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The U.S. Securities and Exchange Commission (SEC) is becoming one of the federal agencies at the forefront of driving transparency, cybersecurity awareness and cyber incident reporting. As we reported in last year’s...more

Vinson & Elkins LLP

Watch What You Say: SEC Enforcement Scrutinizes Cybersecurity Incident Disclosures

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On January 13, 2025, the Securities and Exchange Commission (“SEC”) filed a settled enforcement action against Ashford Inc. (“Ashford” or “the Company”), a company that provides products and services to the real estate and...more

Foley & Lardner LLP

SEC Actions in Review: What Officers and Directors Should Know for 2025

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As the regulatory landscape continues to evolve, public company officers and directors must stay abreast of the enforcement priorities and expectations of the Securities and Exchange Commission (SEC). Over the past year, the...more

Morrison & Foerster LLP

SEC Caps 2024 with Another Cyber Enforcement Action

The SEC continues to leave its mark as a federal cybersecurity enforcer and closed out the year by charging another company with making misleading statements about a cybersecurity attack and failing to maintain cyber-related...more

White & Case LLP

Key Considerations for Updating 2024 Annual Report Risk Factors

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With the 2025 annual reporting season upon us, public companies should consider potential updates to their risk factors for their Form 10-Ks and 20-Fs in light of recent economic, political, technological, and regulatory...more

Maynard Nexsen

Public Company Advisory: SEC Snapshot Q4 2024

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The members of Maynard Nexsen’s Public Company Advisory Practice counsel public companies and companies aiming to become public on the full range of matters shaping their governance and operation in the public markets. As a...more

Wyrick Robbins Yates & Ponton LLP

SEC Charges Four Companies with Misleading Cyber Disclosures

In October of 2024, the Securities and Exchange Commission (the “SEC”) charged four current and former public companies – Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd, and Mimecast Limited – with...more

McDermott Will & Schulte

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

Latham & Watkins LLP

Recent Developments for Directors - November 2024

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SEC Penalizes Director for Misleading D&O Questionnaire Response - The SEC recently brought an enforcement action against a director for causing violations of the proxy rules by failing to disclose a close personal...more

Skadden, Arps, Slate, Meagher & Flom LLP

Recent SEC Cyber-Related Enforcement Actions Emphasize the Importance of Robust Disclosure Controls

On October 22, 2024, the Securities and Exchange Commission (SEC) announced enforcement actions against several technology companies for making materially misleading disclosures regarding cybersecurity risks and intrusions....more

Perkins Coie

Dissenting Commissioners’ Statement in SEC Cyber Disclosure Enforcement Actions May Forecast Change Ahead

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In late October, the SEC announced settled enforcement actions against four public companies, all stemming from impacts from the compromise of SolarWinds’ Orion software. Each order included allegations that the applicable...more

BCLP

The SEC is Watching: Four Companies Charged for Misleading Cyber Disclosures

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On October 22, 2024, the U.S. Securities and Exchange Commission (SEC) charged four publicly traded  technology companies with making materially misleading disclosures regarding cybersecurity risks and incidents (SEC press...more

Wiley Rein LLP

Dissenting Commissioners Criticize SEC’s Latest Cybersecurity Disclosure Cases

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Continuing its controversial and aggressive approaches to cybersecurity, the U.S. Securities and Exchange Commission (SEC) recently charged four current and former public companies for purportedly “materially misleading...more

Ropes & Gray LLP

SEC Announces Settlements with Four Issuers regarding Cybersecurity Disclosures

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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

Holland & Knight LLP

Undeterred by the SolarWinds Storm: SEC Charges Victims of Compromised Software

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The SEC on Oct. 22, 2024, announced charges against four companies for allegedly making materially misleading disclosures concerning the impact of cybersecurity incidents associated with the compromised SolarWinds' Orion...more

Fenwick & West LLP

The SEC is Cracking Down on Misleading Cybersecurity Disclosure

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On October 22, 2024, the SEC charged two current reporting companies, Unisys Corp. and Check Point Software Technologies, and two former public companies, Mimecast Limited and Avaya Holdings Corp., with making materially...more

A&O Shearman

Undeterred By Recent Court Loss, SEC Charges Four Companies With Inadequate Cyber Disclosures In The Aftermath Of SolarWinds...

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On October 22, 2024, the SEC announced that it had entered into settlements with four separate companies for making allegedly misleading disclosures about how they were impacted by the SolarWinds data breach in 2019. The...more

Robinson+Cole Data Privacy + Security Insider

Four Companies Settle Allegations of Deceptive Cyber Disclosures with SEC

This week, the Securities and Exchange Commission (SEC) charged four public companies for alleged deceptive cyber disclosures: Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd., and Mimecast Limited....more

Keating Muething & Klekamp PLL

SEC Fines Four Companies $7M for Violating Cyber Disclosure Rules

On October 22, 2024, the Securities and Exchange Commission charged four companies with making materially misleading disclosures about their cybersecurity risks. Each of the companies—Unisys Corp., Avaya Holdings Corp., Check...more

Woodruff Sawyer

Violent Delights, Violent Ends? Two Possible Futures of SEC Cyber Regulation

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What do the SolarWinds ruling and other recent developments mean for the future of the SEC’s cyber regulatory program? Will the SEC’s “lack of moderation” result in “violent ends” for its cyber agenda? Or will the current...more

A&O Shearman

Judge dismisses most of SEC’s suit against SolarWinds over cybersecurity disclosures

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On July 18, 2024, U.S. District Judge Paul Engelmayer of the U.S. District Court for the Southern District of New York issued a comprehensive 107-page opinion that may have significant implications for the Securities and...more

Holland & Knight LLP

SEC Cyber Enforcement Update: Which Way Are the SolarWinds Blowing? (Update)

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This Holland & Knight blog post is the second installment in a two-part series that examines the challenges to the U.S. Securities and Exchange Commission's (SEC) charges in its landmark case against SolarWinds Corp....more

White & Case LLP

Judge Rejects SEC’s Aggressive Approach to Cybersecurity Enforcement

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On July 18, 2024, a New York federal judge dismissed most of the US Securities and Exchange Commission’s ("SEC") claims against SolarWinds Corp. ("SolarWinds" or the "Company") and its Chief Information Security Officer...more

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