US judge dismisses most of SEC lawsuit against SolarWinds concerning cyberattack

SolarWinds

18/07/2024 15:00

NEW YORK, July 18 (Reuters) - A U.S. judge dismissed
much of the U.S. Securities and Exchange Commission's lawsuit
accusing software company SolarWinds  SWI.N  of defrauding
investors by hiding security weaknesses before and after a
massive cyberattack targeting the U.S. government.
    U.S. District Judge Paul Engelmayer in Manhattan said the
SEC can pursue a securities fraud claim based on a statement on
SolarWinds' website prior to the so-called Sunburst attack about
the company's cybersecurity practices.
    He dismissed all other claims based on pre-Sunburst
disclosures, and said all claims regarding post-Sunburst
disclosures were based on "hindsight and speculation" and also
required dismissal.
    

 (Reporting by Jonathan Stempel in New York)
 ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters
Messaging: jon.stempel.thomsonreuters.com@reuters.net))