Did You Acquire SolarWinds (SWI) Before October 18, 2018? Should Management be Held Accountable for Investors Losses? Contact Johnson Fistel

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Mar 06, 2021, 06:56 ET

SAN DIEGO, March 6, 2021 /PRNewswire/ --

Johnson Fistel, LLP is investigating potential claims on behalf of SolarWinds Corporation ("SolarWinds" or the "Company") (NYSE: SWI) against certain of its officers and directors.

Specifically, a class action lawsuit was recently filed in federal court against the Company on behalf of purchasers of SolarWinds' securities from October 18, 2018 and December 17, 2020 (the "Class Period"). According to the lawsuit, defendants throughout the Class Period made false and misleading statements 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; (4) as a result, SolarWinds would suffer significant reputational harm; and (5) as a result, defendants' statements about the Company's business, operations and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.

If you are a long-term shareholder of SolarWinds continuously holding shares before October 18, 2018, you may have standing to hold SolarWinds harmless from the alleged harm caused by the Company's officers and directors by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If you have held SolarWinds stock since before October 18, 2018, you can [Click here to join this action]. There is no cost or obligation to you.

If you are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

If you have held SolarWinds stock since before October 18, 2018, you can [Click here to join this action]. There is no cost or obligation to you.

SOURCE Johnson Fistel, LLP