Milbank Litigation & Arbitration Attorneys Highlight Key Takeaways From SEC SolarWinds Suit

Cybersecurity risks remain top of mind for boards and corporate counsel, especially given the rise of generative AI and an increasingly fragmented and complex regulatory landscape. For legal and compliance teams interested in designing and enhancing effective cybersecurity programs, the SEC's case against SolarWinds and one of its executives – and the district court's decision granting SolarWinds a partial victory – offer valuable lessons. Many commentators have focused on the portions of the case that the court dismissed. But for in-house counsel and cybersecurity professionals, the more important lessons may lie in the securities fraud claims that survived the district court's ruling.