SolarWinds reaches $26m settlement with shareholders, expects SEC action
SolarWinds has agreed to pay $26 million to settle a shareholder lawsuit, and it's also expecting to be slapped with an enforcement action by Uncle Sam – both related to its infamous 2020 supply chain security fiasco, according to the software maker's most recent US regulatory filing.
At the end of October, SolarWinds reached a deal with investors who sued the company, alleging they were misled about its security posture in advance of the Russian cyberattack on the business, according to an 8-K filing [The settlement, which still must be approved by a judge, would require SolarWinds to pay out $26 million in claims, as well as shareholders' legal fees and the costs of administering the settlement. SolarWinds does not admit any wrongdoing.
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