SolarWinds Comments on SEC Enforcement Action: Another Example of Agency Overreach

Earlier this week, the Securities and Exchange Commission (SEC) filed an enforcement action against SolarWinds (NYSE:SWI) for fraud and failures in regard to “allegedly known cybersecurity risks and vulnerabilities.” CI has received a statement from a SolarWinds spokesperson refuting the SEC’s allegations.

The SolarWinds representative states:

“We are disappointed by the SEC’s unfounded charges related to a Russian cyberattack on an American company and are deeply concerned this action will put our national security at risk. The SEC’s determination to manufacture a claim against us and our CISO is another example of the agency’s overreach and should alarm all public companies and committed cybersecurity professionals across the country. We look forward to clarifying the truth in court and continuing to support our customers through our Secure by Design commitments.”

Apparently, SolarWinds aims to battle the SEC’s claims.

SolarWinds announces Q3 earnings tomorrow (November 2, 2023) before the bell. You can expect additional clarifications to be provided by the management during the earnings call.

A live webcast of the call will be available on the SolarWinds Investor Relations website at at 830 AM ET.

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