A federal judge on Thursday gutted much of the U.S. Securities and Exchange Commission’s landmark lawsuit against information technology software company SolarWinds stemming from a devastating 2020 hack of the company that compromised more than 18,000 of its customers, including tech giants and government agencies.
The case, filed in October 2023 in the Southern District of New York, is being closely watched by security chiefs and other executives worried about the SEC’s increasing scrutiny around how they handle data breaches and present their cybersecurity posture to shareholders.