Recent cybersecurity events have tested the cybersecurity defenses of many of America’s largest public companies and given rise to private class actions and insider trading cases. At the same time, the U.S. Securities and Exchange Commission (the “SEC”) has ramped up its enforcement against misleading cybersecurity disclosures and announced plans to consider adopting new disclosure obligations. Thus, companies may find their ability to respond to a cybersecurity event in real time tested on multiple fronts.
Originally published in Westlaw Today - October 15, 2021.
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