|Company Name||SolarWinds Corporation|
|Class Period||October 18, 2018 to December 17, 2020|
|Motion Deadline||March 5, 2021|
The Thornton Law Firm alerts SolarWinds investors that a class action lawsuit has been filed on behalf of investors who purchased SolarWinds stock or other securities (NYSE: SWI) between February 24, 2020 and December 15, 2020. Such investors are encouraged to submit their information above. Investors may also email firstname.lastname@example.org or call 617-531-3917.
SolarWinds investors have until March 5, 2021 to apply to be a lead plaintiff. Investors do not need to be a lead plaintiff in order to be eligible to recover as class members.
The case alleges that SolarWinds and its senior executives made misleading statements to investors and failed to disclose that: (1) since mid-2020, SolarWinds Orion monitoring products had a vulnerability that allowed hackers to compromise the server upon which the products ran; (2) SolarWinds’ update server had an easily accessible password of ‘solarwinds123’; (3) consequently, SolarWinds’ customers, including, among others, the Federal Government, Microsoft, Cisco, and Nvidia, would be vulnerable to hacks; and (4) as a result, SolarWinds would suffer significant reputational harm.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested SolarWinds investors have until March 5, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys represent individual and institutional investors in lawsuits to recover damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.