SolarWinds executives receive Wells notice from US SEC

SolarWinds

23/06/2023 22:55

June 23 (Reuters) - SolarWinds  SWI.N  said on Friday
that some of its former and current executives had been issued a
Wells notice by the U.S. Securities and Exchange Commission over
a massive cyberattack in 2020 that the software firm was tied
to.
    While a Wells notice does not necessarily mean the
recipients have violated any law, the SEC issues the letter to
firms when it is planning to bring an enforcement action against
them.
    The company was at the center of a cybersecurity crisis in
December 2020, after hackers compromised SolarWinds software
updates and used them to access data of thousands of companies
and government offices that used its products. The U.S.
government had attributed the hack to Russia.
    In November last year, the SEC had recommended an
enforcement action against the software firm over its public
statements on cybersecurity and procedures governing such
disclosures.

 (Reporting by Samrhitha Arunasalam in Bengaluru; Editing by
Maju Samuel)
 ((Samrhitha.A@thomsonreuters.com))