It's really interesting to me that the SEC would pursue this for years (across different presidential admins) and then just decide to drop the whole thing.
lesuorac•2mo ago
> The SEC, SolarWinds and its chief information security officer, Timothy Brown, asked a federal judge on Wednesday to stay court proceedings while they finalize paperwork for a settlement. The judge granted their motion, filings showed.
I mean we can call a settlement "dropped" if you want.
I don't particular know the terms but given that apparently the legal system has been canceling the SEC ("A judge dismissed much of the regulator's case last year.") I suspect they're going to be favorable to SolarWins and so "dropped" is appropriate.
Afaik, the lawsuit probably has little merit in that all of these security companies provide no assurances about their products so uh there's no reason to believe they work. So if they don't do something they didn't claim to do its kinda like a non issue.
pcaharrier•2mo ago
It's a voluntary dismissal (Federal Rules of Civil Procedure Rule 41(a)(1)(A)(ii)). There's a subtle difference between that and the colloquial idea of a "settlement", but it's one that often makes a difference. You can read the filing here: https://www.courtlistener.com/docket/67927585/securities-and...
pcaharrier•2mo ago
lesuorac•2mo ago
I mean we can call a settlement "dropped" if you want.
I don't particular know the terms but given that apparently the legal system has been canceling the SEC ("A judge dismissed much of the regulator's case last year.") I suspect they're going to be favorable to SolarWins and so "dropped" is appropriate.
Afaik, the lawsuit probably has little merit in that all of these security companies provide no assurances about their products so uh there's no reason to believe they work. So if they don't do something they didn't claim to do its kinda like a non issue.
pcaharrier•2mo ago
The opinion from last July, in which a judge dismissed a number of the claims the SEC made, is also worth reading for anyone who wants to think about the relative merits of the lawsuit: https://scholar.google.com/scholar_case?case=221524756372871...