Defendant Name: SolarWinds Corporation

Defendant Type: Public Company
SIC Code: 7372
CUSIP: 83417Q20

Document Reference: comp-pr2023-227

Document Details

Legal Case Name SEC v. SolarWinds Corp. and Timothy G. Brown
Document Name Complaint
Document Date 30-Oct-2023
Document Format Civil Proceeding
Case Number 23-cv-09518
Federal District Court New York, Southern District of New York
Allegation Type Issuer Reporting and Disclosure
Document Summary The SEC stated: "From at least October 2018 through at least January 12, 2021 (the “Relevant Period”), Defendants SolarWinds and its then-Vice President of Security and Architecture, Brown, defrauded SolarWinds’ investors and customers through misstatements, omissions, and schemes that concealed both the Company’s poor cybersecurity practices and its heightened— and increasing—cybersecurity risks."

Related Documents:

2023-227 30-Oct-2023 Press Release--Civil Action
SEC Charges SolarWinds and Chief Information Security Officer with Fraud, Internal Control Failures
On October 30, 2023, the SEC "announced charges against Austin, Texas-based software company SolarWinds Corporation and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities."
LR-25887 31-Oct-2023 Litigation Release
SEC Charges SolarWinds and Chief Information Security Officer with Fraud, Internal Controls Failures
On October 31, 2023, the SEC "announced charges against Austin, Texas-based software company SolarWinds Corporation and its chief information security officer, Timothy G. Brown, for fraud and internal control failures relating to allegedly known cybersecurity risks and vulnerabilities."
court_doc85_23-cv-09518 16-Feb-2024 Complaint
Amended Complaint
On February 16, 2024, the SEC submitted an amended complaint against SolarWinds Corp. for "long-standing, pervasive, systemic, and material cybersecurity deficiencies", which culminated in "a massive cyberattack--which exploited some of SolarWinds' poor cybersecurity practices" as well as "materially false and misleading statements" regarding these deficiencies.

Other Defendants in Action:

Timothy G. Brown