SolarWinds Lawsuit: Only the Beginning
Microsoft, Cisco, Deloitte, and even the Cybersecurity and Infrastructure Security Agency (CISA). These are just a handful of the 18,000 or so customers affected by the SolarWinds Orion data breach of 2020, and, nearly two years later, the company continues to handle the fallout from this event. “We expect to incur significant legal and other professional services expenses associated with the Cyber Incident in future periods,” it said in a Q2 2021 Preliminary Financial Results statement.
The SolarWinds attack, which left customers vulnerable as it remained undetected for nine months, is now back in the news as predicted, with “significant legal” expenses heading their way. On Friday, November 5th, 2021, we learned of a new lawsuit brought against the company’s Board of Directors by its investors. The suit alleges that the SolarWinds Board of Directors knew about the cyber risks facing the company and failed to monitor these risks that ultimately led to the breach. We’ve seen Boards subject to lawsuits by shareholders in the realm of physical safety and risk – the Boeing 737 Max…
