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SEC fines four companies $7 million for ‘misleading cyber disclosures’ regarding SolarWinds hack

TechCrunch LogoTechCrunch6d ago

SEC fines four companies $7 million for ‘misleading cyber disclosures’ regarding SolarWinds hack - TechCrunch

Quick Summary:

All of these companies were victims of the hack suffered by SolarWinds, which affected several other companies and government agencies that used SolarWinds software.

The SEC said that all companies collaborated with its investigation and agreed to pay the penalties and “to cease and desist from future violations of the charged provisions,” while also not “admitting or denying” the SEC findings.

In the last few years, the SEC has imposed a series of new obligations on publicly traded companies when it comes to disclosing data breaches, and their effects on the company and its customers and users.

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SEC fines four companies $7 million for ‘misleading cyber disclosures’ regarding SolarWinds hack - TechCrunch (Picture 1)

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Article Details

Author / Journalist: Lorenzo Franceschi-Bicchierai

Category: Technology

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 16:46:42 (6 days ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 582 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 33 words per sentence (average)

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

Copyright Owner: © TechCrunch

News ID: 23204183

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News Last Updated: 9 hours ago

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  • URL: https://beamstart.com/news/sec-fines-four-companies-7-17296161134654

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