SolarWinds (SWI.N) announced that some of its former and present officials had received Wells notices from the SEC regarding a massive 2020 data breach.
Wells’s notices may not necessarily indicate lawbreaking. The SEC sends Wells notifications to firms it intends to prosecute.
“We are cooperating in a long investigative process that seems to be progressing to charges by the SEC against our company and officers,” a SolarW ends representative said in an email.
“SolarWinds has acted properly at all times by following long-established best practices for both cyber controls and disclosure,”
The representative added.
In December 2020, hackers breached SolarWinds software upgrades and accessed thousands of companies and government agencies that used its products. The U.S. blames Russia for the hack.
LAST NOVEMBER, the SEC recommended enforcement action against the software firm for its cybersecurity disclosures and practices.
