SolarWinds Misled Public on Risks Before Hack, SEC Claims (1)

The Securities and Exchange Commission-bsp-bb-link> alleged on Monday that SolarWinds Corp.-bsp-bb-link> defrauded investors by downplaying security risks ahead of a hack of its software that rippled through computer systems across the US government and corporate America.

The SEC also accused the top information security official at SolarWinds, Tim Brown, of breaking securities rules in a lawsuit filed in federal court in Manhattan. The action is the first time the regulator has sued a computer security executive for a cybersecurity-related issue.

The SolarWinds hack was among the worst cyber breaches in history, affecting hundreds of public companies and numerous government agencies. …