Judge Jeffrey White of the Northern District of California recently dismissed a putative class action lawsuit in which plaintiffs claimed they faced an imminent threat of future of harm in the form of identity theft and fraud...more
In 2020, SolarWinds Corp., a company that provided information technology software to private and government entities, was the victim of a cybersecurity breach. Russian hackers are believed to have slipped malicious code...more
11/16/2022
/ Bad Faith ,
Breach of Duty ,
Corporate Governance ,
Cybersecurity ,
Data Breach ,
Enforcement ,
Fiduciary Duty ,
Hackers ,
Russia ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
SolarWinds ,
Technology Sector
As reported last week, it appears that a state-sponsored security hack has resulted in a major security compromise in widely-used software offered by a company called SolarWinds. The compromised software, known as Orion, is...more
12/22/2020
/ Cyber Attacks ,
Cybersecurity ,
Cybersecurity Information Sharing Act (CISA) ,
Data Breach ,
Data Security ,
Hackers ,
Incident Response Plans ,
Popular ,
Risk Mitigation ,
SolarWinds ,
Supply Chain
As reported last week, a state-sponsored hacker may have breached multiple U.S. government networks through a widely-used software product offered by SolarWinds. The compromised product, known as Orion, helps organizations...more
12/22/2020
/ Cyber Attacks ,
Cyber Crimes ,
Cybersecurity ,
Data Breach ,
Data Security ,
Dual Purpose ,
Due Diligence ,
Hackers ,
Incident Response Plans ,
Popular ,
Risk Assessment ,
SolarWinds
A cyber breach can have serious legal, financial, and reputational consequences for a company, as described in our previous post. As such, cybersecurity threats must be treated as business risks, not just a potential IT...more
9/17/2020
/ Chief Compliance Officers ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Incident Response Plans ,
Personally Identifiable Information ,
Popular ,
Security Risk Assessments ,
Senior Managers
A cyber breach can have serious legal, financial, and reputational consequences for a fund sponsor, as described in our previous post. As such, cybersecurity threats must be treated as business risks, not just a potential IT...more
9/16/2020
/ Broker-Dealer ,
Chief Compliance Officers ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Data Security ,
Incident Response Plans ,
Personally Identifiable Information ,
Popular ,
Registered Investment Advisors ,
Regulation S-P ,
Security Risk Assessments ,
Senior Managers
The Court hearing the Target data security breach litigation issued a ruling on December 2, 2014, largely denying Target’s motion to dismiss the Consolidated Amended Class Action Complaint in the Financial Institutions Cases....more