Latest cybersecurity reporting from selected sources.

High-Profile Case Ends After Judge Guts SEC’s Cyber Fraud AllegationsThe SEC has dropped its remaining claims against SolarWinds and CISO Tim Brown, ending a controversial cyber fraud lawsuit that aimed to expand securities law to cover operational security failures tied to the 2020 Russian hacking campaign.

The U.S. Securities and Exchange Commission (SEC) has abandoned its lawsuit against SolarWinds and its chief information security officer, alleging that the company had misled investors about the security practices that led to the 2020 supply chain attack

Company 'clearly delighted' with the outcome The US Securities and Exchange Commission (SEC) has abandoned the lawsuit it pursued against SolarWinds and its chief infosec officer for misleading investors about security practices that led to the 2020 SUNBURST attack.…

SolarWinds CISO Tim Brown's Case Shows Personal, Legal and Health Risks for CISOsCISOs face tremendous stress in dealing with regulatory scrutiny and legal exposure in the wake of a data breach. SolarWinds CISO Tim Brown shares the personal and professional impact of Securities and Exchange Commission charges against him after the 2020 SolarWinds supply chain attack.

Also: Ransomware Threats in Healthcare; the Growth of MimecastIn the latest weekly update, ISMG editors discussed the evolving disclosure responsibilities of CISOs, yet another ransomware attack targeting the healthcare sector, and Mimecast's latest strategic acquisition as part of its broader expansion efforts.

Lee of Jenner & Block on How SolarWinds Case Ushered in New Era of Risk ManagementThe SolarWinds case has redefined cybersecurity disclosure obligations, especially for chief information security officers. The SEC's novel theories in this case have set a precedent for how organizations must present their cybersecurity practices, said Jennifer Lee, partner at Jenner & Block.

The SEC allegations against SolarWinds and its CISO over statements made after the 2020 ‘Sunburst’ hack were based on "hindsight and speculation,” said the judge

Yahoo, Uber, SolarWinds — increasingly, the government is incentivizing better corporate security by punishing the individuals leading it. Is that a good idea? And how can security pros avoid ending up on the butt end of a lawsuit?

The SEC's lawsuit may take years to resolve through litigation, but here are five things CISOs should do now to protect both themselves as individuals as well as their organizations.

Introduction The infamous Colonial pipeline ransomware attack (2021) and SolarWinds supply chain attack (2020) were more than data leaks; they were seismic shifts in cybersecurity. These attacks exposed a critical challenge for Chief Information Security Officers (CISOs): holding their ground while maintaining control over cloud security in the accelerating world of DevOps.

What happens to security leaders that don't communicate security well enough? "Ask SolarWinds."

Calls Securities and Exchange Commission's Cybersecurity Allegations 'Unfounded'Network monitoring software vendor SolarWinds moved to dismiss a federal lawsuit accusing the company and its CISO of securities fraud after they allegedly misstated the efficacy of its cybersecurity controls. Russian intelligence hacked the company in an incident disclosed in 2020.

Post-SolarWinds, it's no longer enough for chief information security officers to remain compliant and call it a day.

The SolarWinds SEC lawsuit illuminates the potential risks faced by CISOs and other cybersecurity executives.

Joe Sullivan, spared prison time, weighs in on the lessons learned from the 2016 Uber breach and the import of the SolarWinds CISO case.

Also: Advice for the Next White House Cyber Director; CISOs' Liability ConcernsIn the latest weekly update, the former federal CISO, Grant Schneider, joins three editors at ISMG to discuss important cybersecurity issues, including advice for the next White House cyber director, and liability concerns facing CISOs following SolarWinds and its CISO being accused of fraud.

Company publishes fierce response to lawsuit brought last month SolarWinds has come out guns blazing to defend itself following the Securities and Exchange Commission's announcement that it will be suing both the company and its CISO over the 2020 SUNBURST cyberattack.…

In a rapidly evolving cybersecurity landscape, CISOs must take proactive measures to safeguard their careers and mitigate risks associated with their roles.

The legal actions may have a chilling effect on hiring CISOs, who are already in short supply, but may also expose just how budget-constrained most security executives are.

Complaint alleges company overstated security posture and understated risks