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Solar Winds can’t dodge investor suit over massive cyberattack

Posted on April 1, 2022 by Dissent

Stephen Paulsen reports:

An Austin-based tech company may be liable to investors after it suffered a major security breach that caused its stock price to plummet, a federal judge ruled.

Although that company, SolarWinds, was itself a victim of the breach, the company may had acted recklessly in protecting its software, U.S. District Judge Robert Pitman held late Wednesday. The Barack Obama appointee said SolarWinds may have also misled investors by misrepresenting its cybersecurity efforts.

Read more at Courthouse News.

Category: Business SectorOf NoteU.S.

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