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Navigating the SEC's New Cybersecurity Disclosure Rules
In December of 2020, SolarWinds Corp. publicly acknowledged a major cyberattack that resulted in supply chain compromise and headline discussions about national security and data security. On Oct. 20, 2023 the U.S. Securities and Exchange Commission (SEC or Commission) charged SolarWinds and its chief information security officer (CISO) with fraud for allegedly failing to disclose known material cybersecurity risks and vulnerabilities.
While the complaint references the cyberattack, the lawsuit notably focuses more on SolarWinds' allegedly "poor cybersecurity practices" and lack of internal controls, and, for the first time, implicates a CISO personally.
The SolarWinds complaint came amidst an ongoing trend of SEC cybersecurity-related enforcement, such as charges brought in 2019 against First American Title Insurance Company, and in 2021 against various broker-dealers and investment advisers, all focused on purported failures to implement adequate cybersecurity controls and procedures and, in particular, deficiencies in internal reporting.
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'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
CoStar Wins Injunction for Breach-of-Contract Damages In CRE Database Access Lawsuit
Latham & Watkins helped the largest U.S. commercial real estate research company prevail in a breach-of-contract dispute in District of Columbia federal court.
The Power of Your Inner Circle: Turning Friends and Social Contacts Into Business Allies
Practical strategies to explore doing business with friends and social contacts in a way that respects relationships and maximizes opportunities.