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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk... more +
Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now.   less -
Troutman Pepper

SEC Cybersecurity Incidents Disclosures: Materiality, Decryptors, and Ransom Payments - Dear Mary – Incidents + Investigations...

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I work for a public company that recently experienced a ransomware attack. Fortunately, we were able to restore our business operations quickly by obtaining a decryption key from the threat actor. Given that we managed to get...more

Sheppard Mullin Richter & Hampton LLP

SEC Continues its Cybersecurity Focus, Settles with Company over Lax Security Measures

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The SEC recently issued an order and settlement against a company from a pair of cyberattacks in which millions of dollars of client funds were stolen. While the company was able to recover a portion of the funds and...more

Akin Gump Strauss Hauer & Feld LLP

Cybersecurity After SolarWinds: Practical Guidance for CISOs Under the New Rules

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Judge Engelmayer’s 107-page dismissal of most of the U.S. Securities and Exchange Commission (SEC)’s claims against SolarWinds provides valuable guidance, and some comfort, for public companies and Chief Information Security...more

The Volkov Law Group

Episode 334 -- District Court Dismisses Bulk of SEC Claims Against Solarwinds

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A New York federal district judge handed down a significant decision dismissing much of the SEC's securities fraud enforcement action against SolarWinds arising from its claims relating to SolarWinds' cybersecurity policies,...more

Latham & Watkins LLP

Recent Developments for Directors - August Edition

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Last month, the SEC announced another enforcement action emphasizing the need for early disclosure of cybersecurity events. In the recent action, the company had taken three weeks to act on internal alerts of malware on its...more

Husch Blackwell LLP

Court Limits an Early SEC Effort at Cybersecurity Enforcement

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On July 18, 2024, Judge Paul A. Engelmeyer of the U.S. District Court for the Southern District of New York issued a 107-page opinion dismissing most of the Securities and Exchange Commission’s (SEC) case against SolarWinds...more

Steptoe & Johnson PLLC

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

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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

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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

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

Orrick, Herrington & Sutcliffe LLP

The Download: Do I need to make money to go public?

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01 Do I need to make money to go public?02 A new M&A playbook in the age of AI03 Cyber enforcement forecast post-SolarWinds decision04 Cyber diligence for IPOs with Kroll’s CISO05 The Download Quiz: Venture capital trends...more

Kramer Levin Naftalis & Frankel LLP

Southern District of New York Dismisses Most Claims in SEC Cybersecurity-Related Enforcement Action Against SolarWinds

Kramer Levin Naftalis & Frankel LLP on

On July 18, 2024, U.S. District Judge Paul A. Engelmayer of the Southern District of New York dismissed most of the charges that the Securities and Exchange Commission brought against SolarWinds and its chief information...more

A&O Shearman

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

A&O Shearman on

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

Dechert LLP

Dechert Cyber Bits - Issue 59

Dechert LLP on

U.S. Court Axes Most of SEC's SolarWinds Data Breach Suit - The U.S. District Court for the Southern District of New York recently dismissed much of the U.S. Securities and Exchange Commission’s (“SEC”) suit against...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

BCLP

SDNY Dismisses Majority of SEC Landmark Charges Against SolarWinds and CISO

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On July 18, 2024, District Court Judge Engelmayer of the Southern District of New York issued his 107-page opinion and order dismissing most – but not all – of the landmark allegations of the SEC against SolarWinds Corp. and...more

Parker Poe Adams & Bernstein LLP

Key Lessons for Cybersecurity and IT Leaders From Judge's Recent Fraud Decision in SEC Case Against SolarWinds

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On July 18, a New York federal judge threw out most of the SEC’s claims brought against both SolarWinds Corp. and the company’s chief information security officer (CISO), Timothy Brown....more

Fenwick & West LLP

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

Fenwick & West LLP on

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

Jenner & Block

Client Alert: Key Takeaways from the Motion to Dismiss Ruling in SEC v. SolarWinds et al.

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The SEC’s high-profile litigation against SolarWinds and its Chief Information Security Officer (CISO), Timothy G. Brown, reached a critical turning point on July 18, 2024, when a district court in the Southern District of...more

Cooley LLP

Federal Court Dismisses Bulk of SEC’s Complaint Against SolarWinds in Cyberattack Case

Cooley LLP on

On July 18, 2024, US District Judge Paul Engelmayer of the Southern District of New York issued a detailed 107-page opinion and order dismissing most of the US Securities and Exchange Commission (SEC) case against SolarWinds...more

Patterson Belknap Webb & Tyler LLP

SEC Settlement: Cybersecurity Internal Controls

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On June 18, 2024, the Securities and Exchange Commission (“SEC”) announced a $2.1 million civil penalty settlement of charges against R.R. Donnelley & Sons (“RRD”), a global provider of business communications services and...more

The Volkov Law Group

SEC Suffers Major Blow in Securities Fraud Case Against SolarWinds

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A New Your federal district judge handed down a significant decision dismissing much of the SEC’s securities fraud enforcement action against SolarWinds arising from its claims relating to SolarWinds’ cybersecurity policies,...more

Thomas Fox - Compliance Evangelist

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

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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

The Volkov Law Group

SEC Expands Internal Controls Provision to Cover Cybersecurity Incidents and Reaches $2.1 Million Settlement with R.R. Donnelley &...

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In a significant expansion of internal controls enforcement, the SEC announced a $2.1 million settlement with R.R. Donnelley & Sons Co. (“RRD”) for its handling of a 2021 ransomware attack and resulting disclosure failures. ...more

Foley Hoag LLP - Security, Privacy and the...

AT&T/Snowflake Breach Hits Most of US - Vendor Exposure Strikes Again

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AT&T Inc. announced in a July 12, 2024, SEC filing that hackers stole a cache of six months’ worth of mobile phone customer data, illegally downloading the records from a workspace account at the cloud-service provider...more

Alston & Bird

SEC Corporation Finance Provides Additional Guidance on the Disclosure of Material Cybersecurity Incidents in Form 8-K

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On June 24, 2024, the Division of Corporation Finance (“Corp Fin”) of the Securities and Exchange Commission (“SEC”) issued five new Compliance and Disclosure Interpretations (“C&DIs”) related to the disclosure of “material”...more

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