SEC_LITIGATION
CYBER_SECURITY
SECURITIES_FRAUD
Solar Winds v. SEC
2023-CV-6452
|
S.D.N.Y.
|
Filed March 8, 2025
Active
Sign in to follow this case
Advertisement
auto_awesome
AI Intelligence Summary
Federal judge strikes down key portions of the SEC's fraud claims against SolarWinds and its CISO, marking a significant precedent for corporate cybersecurity disclosure requirements. The ruling narrows the scope of Securities Act liability for cybersecurity incidents.
Key Issues
- • Cybersecurity disclosure requirements
- • CISO personal liability
- • Securities fraud standards
- • Materiality of cyber incidents
Case Timeline
3 events
info
Ruling
April 9, 2026
Partial Dismissal of SEC Claims
Federal judge dismisses majority of SEC's fraud claims, finding insufficient evidence of scienter in cybersecurity disclosure failures.
info
Hearing
March 13, 2026
Oral Arguments on Motion to Dismiss
Both parties presented oral arguments. Court focused heavily on the materiality standard for cybersecurity incidents.
info
Motion
February 26, 2026
SEC Opposition to Motion to Dismiss
SEC argues that SolarWinds' public statements about cybersecurity were materially misleading to investors.
Advertisement