{"id":408888,"date":"2021-01-05T15:10:27","date_gmt":"2021-01-05T20:10:27","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=408888"},"modified":"2021-01-05T15:10:27","modified_gmt":"2021-01-05T20:10:27","slug":"glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-the-filing-of-a-securities-class-action-on-behalf-of-solarwinds-corporation-swi-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-the-filing-of-a-securities-class-action-on-behalf-of-solarwinds-corporation-swi-investors\/","title":{"rendered":"Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors"},"content":{"rendered":"

<\/p>\n

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–Glancy Prongay & Murray LLP<\/a> (\u201cGPM\u201d), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired SolarWinds Corporation (\u201cSolarWinds\u201d or the \u201cCompany\u201d) (NYSE: SWI<\/a>) securities between February 24, 2020 and December 15, 2020<\/b>, inclusive (the \u201cClass Period\u201d). SolarWinds investors have until March 5, 2021<\/b> to file a lead plaintiff motion.\n<\/p>\n

\nIf you suffered a loss on your SolarWinds investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/solarwinds-corporation\/<\/a>. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com<\/a>to learn more about your rights.\n<\/p>\n

\nOn December 13, 2020, Reuters <\/i>reported hackers have been monitoring email traffic at the U.S. Treasury and Commerce departments. The hackers are believed to have breached the emails by deceptively interfering with updates released by SolarWinds, which services various government vendors in the executive branch, the military, and the intelligence services.\n<\/p>\n

\nOn December 14, 2020, the Company disclosed that \u201ca vulnerability [was inserted] within its Orion monitoring products which, if present and activated, could potentially allow an attacker to compromise the server on which the Orion products run.\u201d The vulnerability was inserted in Orion products downloaded, as well as updates released, between March and June 2020.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $3.93, or 17%, to close at $19.62 per share on December 14, 2020, thereby injuring investors.\n<\/p>\n

\nThen, on December 15, 2020, Reuters<\/i> reported that Vinoth Kumar, a security researcher, alerted the Company last year that anyone could access SolarWinds\u2019 update server by using the password \u201csolarwinds123.\u201d The article also reported that co-founder of cybersecurity company Huntress, Kyle Hanslovan, noticed the malicious updates were still available for download even days after SolarWinds was aware their software was compromised.\n<\/p>\n

\nOn this news, the Company\u2019s stock price fell $1.56, or 8%, to close at $18.06 per share on December 15, 2020, thereby injuring investors further.\n<\/p>\n

\nThe complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors 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, the Company would suffer significant reputational harm; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.\n<\/p>\n

\nFollow us for updates on LinkedIn<\/a>, Twitter<\/a>, or Facebook<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired SolarWinds securities during the Class Period, you may move the Court no later than March 5, 2021 <\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com<\/a>, or visit our website at www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210105005898\/en\/<\/a><\/span><\/p>\n

\nGlancy Prongay & Murray LLP, Los Angeles
\n
Charles H. Linehan, 310-201-9150 or 888-773-9224
\n
1925 Century Park East, Suite 2100
\n
Los Angeles, CA 90067
\n
www.glancylaw.com
\n<\/a>
shareholders@glancylaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired SolarWinds Corporation (\u201cSolarWinds\u201d or the \u201cCompany\u201d) (NYSE: SWI) securities between February 24, 2020 and December 15, 2020, inclusive (the \u201cClass Period\u201d). SolarWinds investors have until March 5, 2021 to file a lead plaintiff motion. If you suffered a loss on your SolarWinds investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, … <\/p>\n

Continue reading “Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-408888","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGlancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-a-leading-securities-fraud-law-firm-announces-the-filing-of-a-securities-class-action-on-behalf-of-solarwinds-corporation-swi-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of SolarWinds Corporation (SWI) Investors LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (\u201cGPM\u201d), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired SolarWinds Corporation (\u201cSolarWinds\u201d or the \u201cCompany\u201d) (NYSE: SWI) securities between February 24, 2020 and December 15, 2020, inclusive (the \u201cClass Period\u201d). SolarWinds investors have until March 5, 2021 to file a lead plaintiff motion. 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SolarWinds investors have until March 5, 2021 to file a lead plaintiff motion. 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