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Corporate Counsel Cyber Attacks

Akin Gump Strauss Hauer & Feld LLP

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

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

Fisher Phillips

If a Cybersecurity Firm Can Fall For the Latest AI Workplace Scam, So Can You: 10 Steps to Protect Your Business

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A prominent cybersecurity training company just fell victim to an increasingly common scam when it hired a remote worker who turned out to be a North Korean cybercriminal that used AI deepfake tools to fake his identity and...more

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

Blake, Cassels & Graydon LLP

Invasion of the Data Snatchers: B.C. Court of Appeal Clarifies Possible Scope of Privacy Claims Against Data Custodians in Data...

On July 4, 2024, the B.C. Court of Appeal issued a duo of class action appeal decisions considering the potential scope of statutory and common law privacy claims against data custodians that fall victim to cyberattacks in...more

Ballard Spahr LLP

XZ Utils Supply Chain Attack Sheds Light on Vulnerabilities in Widely Adopted Open Source System

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In a reminder that open source products can carry significant risks beyond intellectual property, a vulnerability in a compression tool commonly used by developers has triggered widespread concerns....more

Robinson+Cole Data Privacy + Security Insider

Tennessee Passes Law Restricting Data Breach Class Action Suits

Tennessee Governor Bill Lee signed legislation on May 22, 2024, that will shield private entities from class action lawsuits stemming from a cybersecurity event unless the event was caused by willful, wanton, or gross...more

Wiley Rein LLP

Darned if You Do, Darned if You Don’t: Recent Lessons from the SEC On Cyber Reporting

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The Security and Exchange Commission (SEC) Director of the Division of Corporate Finance, Erik Gerding, released a statement on May 21, 2024 that may have regulated entities scratching their heads about compliance and the...more

Cooley LLP

Fatal Flaws in SEC’s Amended Complaint Against SolarWinds

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In March 2024, a coalition of more than 50 cybersecurity leaders and organizations called for dismissal of an amended complaint by the Securities and Exchange Commission (SEC) against SolarWinds and its chief information...more

Alston & Bird

Top 10 Issues General Counsel Need to Know About Ransomware in 2024

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Threat actors are evolving. Our Privacy, Cyber & Data Strategy Team explains how ransomware gangs have changed their tactics and how companies can respond to the threat while navigating new scrutiny from investors and...more

Shook, Hardy & Bacon L.L.P.

Illinois Appellate Decisions Highlight Evolving Landscape of Data Breach Litigation

Illinois is a major destination for putative class actions arising out of data incidents such as ransomware and other attacks. The cases rarely involve actual demonstrable misuse of personal identifying information (PII)....more

Locke Lord LLP

More Safe Harbor Protections for Navigating Cyber and Privacy Litigation

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Cybersecurity and data privacy risks continue to loom large with potentially significant consequences. Litigation, often filed soon after incidents, adds to the possible repercussions. In our previous article, we discussed a...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

Morrison & Foerster LLP

Top 5 SEC Developments for July 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Freiberger Haber LLP

Case of First Impression in the Appellate Division: Data Breach By Itself is Not An “Injury-in-Fact”

Freiberger Haber LLP on

The law can be funny. Not in a comedic way, but in a way that defies expectations about what is needed to bring a cause of action. Sometimes this is manifested in the quantum of evidence needed to bring an action and survive...more

Katten Muchin Rosenman LLP

SEC Sends Ominous Warning to CISOs and Cybersecurity Professionals With Wells Notice Concerning SolarWinds Breach

On June 23, 2023, SolarWinds disclosed in its most recent Form 8-K filing that “certain current and former executive officers and employees” of SolarWinds, including SolarWinds’ Chief Financial Officer (CFO) and Chief...more

Orrick, Herrington & Sutcliffe LLP

11th Circuit orders reexamination of breach class boundaries

On July 11, a split U.S. Court of Appeals for the Eleventh Circuit partially vacated the greenlighting of two data breach class actions, holding that a district court must re-analyze the boundaries of the classes. Both the...more

K&L Gates LLP

After Important Cyber Insurance Victory for Policyholders, Focus Turns to Insurers' Proposed Changes to War Exclusions

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A recent appellate court decision could help policyholders secure insurance coverage for losses arising out of state-sponsored cyberattacks. In Merck & Co., Inc. v. ACE American Ins. Co., the Superior Court of New Jersey...more

Jenner & Block

Evolving Caremark Duties Related to Cybersecurity Risks

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In the recent case Construction Industry Laborers Pension Fund on behalf of SolarWinds Corporation, et. al v. Mike Bingle, et al. (2022), the Delaware Chancery Court considered whether the directors of SolarWinds Corporation,...more

Faegre Drinker Biddle & Reath LLP

Federal Court Holds Bank Liable For Business Email Compromise Losses

We have written on previous occasions about the rise in frequency and severity of Business Email Compromise (BEC) cyberattacks. As explained in other posts, BEC attacks are a type of phishing scam typically targeting...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for January 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Allen Matkins

SEC Demands That Covington & Burling "Name Names"

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Earlier this week, the United States Securities and Exchange Commission filed a complaint against one of the country's leading law firms - Covington & Burling LLP.  According to the complaint, "threat actors" associated with...more

Blake, Cassels & Graydon LLP

Court of Appeal for Ontario Limits Intrusion Upon Seclusion Claims in Cybersecurity Cases

On November 25, 2022, in Owsianik v. Equifax Canada Co., 2022 ONCA 813 (Owsianik), the Ontario Court of Appeal (Court) held that intrusion upon seclusion is not a viable cause of action against a defendant who has been the...more

Robinson+Cole Data Privacy + Security Insider

Beware of Luna Moth Callback Phishing Scam

Palo Alto’s Unit 42 recently issued a threat assessment alert outlining a new phishing scam that is unique and successful. The scam is believed to be carried out by the Luna Moth/Silent Ransom Group and is targeting...more

Health Care Compliance Association (HCCA)

[Virtual Event] Richmond Regional Healthcare Compliance Conference - December 9th, 8:25 am - 4:30 pm EST

General and specialty compliance training from the comfort of your home or office! HCCA’s Regional Healthcare Compliance Conferences provide practitioners with virtual compliance training that includes updates on the...more

Pietragallo Gordon Alfano Bosick & Raspanti,...

Cybersecurity Insurance: Circuit Courts Weigh in on Insurers’ Liability for an Insured’s Losses Stemming from a Data Breach

When a cybersecurity-related incident occurs, an insured should not automatically assume a standard commercial general liability (CGL) policy issued by an insurer will cover their losses, as CGL policies generally afford...more

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