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SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of SolarWinds Corporation - SWI

Pomerantz LLP
·2 min read

NEW YORK, Dec. 19, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of SolarWinds Corporation (“SolarWinds” or the “Company”) (NYSE: SWI). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether SolarWinds and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On December 13, 2020, Reuters reported that hackers alleged to be working for the Russian government had monitored email traffic at the U.S. Treasury and Commerce departments and that the alleged hackers are believed to have gained access to the agencies’ email traffic by deceptively interfering with updates released by SolarWinds, which services various government vendors in the executive branch, the military, and the intelligence services. On December 14, 2020, SolarWinds disclosed that it had evidence that the software weaknesses at issue originated in the Company’s Orion monitoring products and existed in updates released between March and June 2020.

On this news, SolarWinds’ stock price fell $3.93 per share, or 17%, to close at $19.62 per share on December 14, 2020.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980