With the security industry focused on the fallout from MOVEit, Solarwinds (the OG of software supply chain risk) quietly dropped a bombshell of an 8K on Friday.
Their CISO was served with a Wells Notice in connection with their 2020 cyber incident.
A Wells Notice says the SEC intends to recommend enforcement action against the individual for violating securities rules. This is a really big deal.
It’s unprecedented: this is likely the first time a CISO has ever received one of these.
And the implications are immense: Wells Notices are no joke. They create massive career hardships — especially if one plans to work for a publicly traded company.
But the details of the allegation aren’t public. So there’s a lot we don’t know yet.
Source: Did the stakes just get monumentally raised for CISOs? | Jamil Farschi
