SolarWinds Investors Say Board Duty Failures Enabled Breach

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By Jeff Montgomery (May 13, 2022, 6:32 PM EDT) — An attorney for SolarWinds Corp. stockholders told a Delaware vice chancellor Friday that the information technology giant ignored red flags and failed to oversee its business as Russians hackers exploited security failings to execute the world’s largest cyberattack.

Noam Mandel of Robbins Geller & Dowd LLP, arguing against dismissal of a Chancery Court derivative damages suit against the company’s directors, told Vice Chancellor Sam Glasscock III that SolarWind’s board failed in its duty to establish information and board systems to monitor risks facing the business, then failed to oversee them before the massive hack, dubbed Sunburst, came to light in late…

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