Product Description
Publication Date: January 06, 2025
Source: Harvard Business School
In 2020, just two years after its IPO, information technology company SolarWinds discovered that it was the victim of an attack on its information systems by Russian hackers. The incident, known as the Sunburst attack, was costly for the company, and certain shareholders subsequently filed a derivative suit against the SolarWinds board of directors for allegedly breaching their fiduciary duty of oversight. The plaintiff shareholders charged that the directors had failed to adequately oversee cybersecurity risk and sought to hold the directors personally liable for the damage to the company resulting from the Sunburst attack. The case consists of an excerpt from the Delaware Chancery Court's 2022 opinion describing the facts of the case.
