New York, New York--(Newsfile Corp. - February 24, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of SolarWinds Corporation (NYSE: SWI) alleging that the Company violated federal securities laws.
Class Period: October 18, 2018 and December 17, 2020
Lead Plaintiff Deadline: March 5, 2021
Learn more about your recoverable losses in SWI:
The filed complaint alleges that SolarWinds Corporation made materially false and/or misleading statements and/or 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, the Company would suffer significant reputational harm; and (5) as a result, Defendants' statements about SolarWinds's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until March 5, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the SWI lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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