SolarWinds slammed the U.S. Securities and Exchange Commission over recent charges against the software company and its CISO Timothy Brown, claiming the agency's lawsuit is "fundamentally flawed."
Last week, the Securities and Exchange Commission (SEC) announced it had filed charges of fraud and internal security controls failures against both SolarWinds and its CISO, Timothy Brown. The SEC claimed the company and its CISO misled investors by publicly overstating its cybersecurity practices from a period between October 2018 and December 2020, when SolarWinds disclosed it was breached in a massive supply chain attack at the hands of Russian nation-state hackers.
"In its filings with the SEC during this period, SolarWinds allegedly misled investors by disclosing only generic and hypothetical risks at a time when the company and Brown knew of specific deficiencies in SolarWinds' cybersecurity practices as well as the increasingly elevated risks the company faced at the same time," the SEC said in the announcement last week.
SolarWinds posted a rebuttal to the SEC charges Wednesday evening, claiming the lawsuit has " false claims" about both the company's security practices as well as the notorious supply chain attack.
SolarWinds "categorically" denied the SEC's allegations that it lacked adequate security controls prior to the supply chain attack, in which threat actors used malicious updates for the company's Orion IT management software to deliver backdoor malware known...
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