SEC Charges Four Companies Over SolarWinds Hacks, Issues Millions In Penalties

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Securities and Exchange Commission (SEC) charged four major companies — Unisys Corp.(NYSE:UIS), Avaya Holdings Corp., Check Point Software Technologies (NASDAQ:CHKP) and Mimecast — with making materially misleading public disclosures related to cybersecurity risks and breaches.

"As today's enforcement actions reflect, while public companies may become targets of cyberattacks, it is incumbent upon them to not further victimize their shareholders or other members of the investing public by providing misleading disclosures about the cybersecurity incidents they have encountered," said Sanjay Wadhwa, acting director of the SEC's Division of Enforcement.

SEC argued these four companies downplayed the seriousness of the SolarWinds Corp.(NYSE:SWI) Orion software supply chain attack in their filings, potentially misleading investors about the true impact of the breaches.

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Article Details

Author / Journalist: Stjepan Kalinic

Category: Technology

Markets: United StatesIsraelMali

Topics: Legal Global Regulations Benzinga US9092143067 News SEC Hack Cybersecurity Hacking US83416B1098 Mimecast Check Point CHKP Government UIS Tech Avaya Holdings SWI IL0010824113

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 21:44:33 (6 days ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 465 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 23207408

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