Judge Sets May 9 Oral Argument on SolarWinds’ Motion to Dismiss SEC Complaint

U.S. District Judge Paul Engelmayer for Southern New York in Manhattan granted SolarWinds’ Friday letter motion for oral argument on its motion to dismiss the SEC’s securities fraud complaint, said the judge’s signed order Monday (docket 1:23-cv-09518). The court’s current briefing schedule provides for a reply brief in support of a motion to dismiss an amended SEC complaint to be filed by May 3, said the order. In the expectation that an amended complaint will be filed, the court schedules in-person oral argument on the motion to dismiss for May 9 at 2 p.m., it said. Feb. 16 is the SEC’s deadline for filing an amended complaint, it said. Should the SEC not file an amended complaint, Engelmayer will reschedule the argument date for early April, consistent with the March 22 reply brief deadline that would then apply, said the order. The SEC’s 10-count complaint alleges that SolarWinds and Timothy Brown, its chief information security officer, were guilty of SEC Act violations for not alerting investors to the scale of the December 2020 cyberattack waged by the Russian government and to the company’s security vulnerabilities leading up to it (see 2310310041). SolarWinds’ motion to dismiss Friday called the SEC’s complaint “fundamentally flawed” (see 2401290033).