SolarWinds says it’s facing SEC ‘enforcement action’ over 2020 hack

The long hangover from a 2020 state-sponsored compromise still isn’t over for SolarWinds, as the software giant targeted by Russian government hackers has to pony up $26 million to shareholders and face possible enforcement action from the federal government.

In a recent 8-K filing with the U.S. Securities and Exchange Commission, SolarWinds said it reached an agreement with shareholders, who sued the company alleging they were misled about the 2020 hack. Investors accused the software house, which makes network management tools used by corporations and government departments, of misrepresenting its security and failing to adequately monitor cybersecurity risks. SolarWinds will not accept any liability or admit fault as part of the shareholder suit, if a court agrees to the settlement.

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Source: Techcrunch