By Katryna Perera (November 5, 2021, 7:55 PM EDT) — Current and former directors of information technology company SolarWinds have been hit with a stockholder derivative suit in Delaware’s Chancery Court over claims they were at fault for the massive hack and data breach that affected governments and private businesses around the globe last year.
The complaint filed by shareholders Thursday states the suit is in response to the directors’ “utter failure to implement or oversee any reasonable monitoring system concerning … cybersecurity risks fundamental to SolarWinds’ only line of business.”
These failures, the shareholders claim, led to one of the most devastating cyberattacks in U.S. history, which has since been…
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Officers And Directors Spared Home Depot Data Breach Derivative Lawsuit Mondaq News Alerts (registration) Officers and directors may breathe a temporary sigh of relief following the recent dismissal of the Home Depot data breach derivative case. Others will look to the facts for guidance. The complaint alleging the board had breached its fiduciary duties …
