SEC to drop high-profile SolarWinds hack lawsuit

The Securities and Exchange Commission on Thursday said it will dismiss a lawsuit against SolarWinds that had accused the company of making fraudulent statements that misled investors about its cybersecurity posture.

The suit, initially filed in 2023, alleged that SolarWinds and its chief information security officer, Timothy Brown, defrauded investors over a two-year period by not disclosing cybersecurity weaknesses between the company’s initial public offering in October 2018 and December 2020. 

It was revealed in late 2020 that Kremlin-linked hackers leveraged what later became known as the Sunburst trojan that allowed them to access the SolarWinds Orion IT management software, letting the Russian operatives breach networks of multiple federal agencies, including the National Nuclear Security Administration.

The new dismissal notice was filed in the Southern District of New York, where the case was being litigated. 

The landmark lawsuit — in which the victim of a cyberattack faced prosecution from the ...