SolarWinds said on Friday some of its former and current executives had been issued a Wells notice by the U.S. Securities and Exchange Commission over a massive 2020 data breach tied to the software firm.
A Wells notice does not necessarily mean that recipients have violated any law. The SEC issues Wells notices to firms when it is planning to bring enforcement action against them.
“We are cooperating in a long investigative process that seems to be progressing to charges by the SEC against our company and officers,” a SolarWinds spokesperson said in an emailed statement.
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn