It’s been a rough time for federal agencies. First the Supreme Court undid 40 years of Chevron deference. Now a federal judge has gutted the Security and Exchange Commission’s lawsuit against SolarWinds. Reuters reports:
A U.S. judge dismissed most of a Securities and Exchange Commission lawsuit accusing software company SolarWinds (SWI.N), opens new tab of defrauding investors by concealing its security weaknesses before and after a Russia-linked cyberattack targeting the U.S. government.
U.S. District Judge Paul Engelmayer in Manhattan dismissed all claims against SolarWinds and chief information security officer Timothy Brown over statements made after the attack, saying the claims were based on “hindsight and speculation.”
In a 107-page decision on Thursday, the judge also dismissed most SEC claims concerning statements predating the attack, apart from securities fraud claims based on a statement on SolarWinds’ website touting the company’s security controls.
Read more at Reuters.
