SEC Probing Firms Over SolarWinds Breach Disclosures

Law360 (June 21, 2021, 7:00 PM EDT) -- The U.S. Securities and Exchange Commission is investigating whether companies failed to disclose the effects of the now infamous SolarWinds cyberattack on their businesses, offering amnesty to those that come forward and potential enforcement actions and steep fines for those that don't, according to industry sources and at least one major law firm.

The agency is offering amnesty to companies that voluntarily disclose how they were affected by the cyberattack — first revealed in December — including any remedial steps they subsequently took, according to a memo published over the weekend by a team of attorneys at Skadden Arps Slate Meagher...

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