The SEC concluded that four tech companies misled investors and minimized the damage they suffered from the SolarWinds supply chain hack.

The companies include IT security firm Check Point and email security provider Mimecast, which were ensnared in the SolarWinds breach four years ago.

The firms minimized how their systems were affected by the breached software, the Securities and Exchange Commission said.

Four hacked companies will pay a total of almost $7 million to settle US Securities and Exchange Commission allegations that they downplayed the significance of the cyberattacks, the latest fallout from the massive SolarWinds Corp.

Four current or former public companies will pay a total of nearly $7 million in fines to settle charges by the Securities and Exchange Commission that they underplayed or failed to disclose material information about how the SolarWinds Orion hack affected them.

The agency said Unisys, Avaya Holdings, Check Point Software Technologies and Mimecast provided misleading disclosures about the incidents, leaving investors in the dark about their "true scope."

The SEC charged four major companies for misleading disclosures about cybersecurity risks and breaches, including SolarWinds attack. Companies will pay fines and improve cybersecurity practices.

Unisys Corp, Avaya Holdings, Check Point Software, and Mimecast—for allegedly misleading investors about the impact of their breaches during the massive 2020 SolarWinds Orion hack.

Analyst says there are lessons for CSOs in the contents of the SEC rulings, though ‘enforcement action is specific to investors.’

The SEC announces penalties against Unisys, Avaya, Check Point and Mimecast for downplaying the impact of the SolarWinds Orion hack.

The Securities and Exchange Commission fined four cybersecurity companies for downplaying to investors the impact the 2020 Russian hack of SolarWinds had on their own systems. Why it matters: It's rare to see companies come under regulatory fire for cybersecurity disclosures.