SWI.US
id: 486, Created by Stan Vick, Scout
Solarwinds "Cybersecurity" shortfall Investors $26M Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
W.D. Texas
Court1:21-cv-00138-RP
Case number18 Oct 2018
Class period Start17 Dec 2020
Class period End07 Jul 2023
Claim deadlineSolarWinds (SWI) agreed to pay $26 million to settle a securities class action lawsuit to avoid further litigation.
The complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:
- since mid-2020, SolarWinds Orion monitoring products had a vulnerability that allowed hackers to compromise the server upon which the products ran;
- SolarWinds' update server had an easily accessible password of 'solarwinds123';
- consequently, SolarWinds' customers, including, among others, the Federal Government, Microsoft, Cisco, and Nvidia, would be vulnerable to hacks;
All persons and entities who purchased or otherwise acquired the common stock of SolarWinds from October 18, 2018, through December 17, 2020, may be entitled to payouts.
Alleged Offence
Other
Suspected Party
Other
Security Type
Stocks
Trade Direction
Long
Filing date
04 January 2021
Lead plaintiff
Timothy Bremer
Attorney
Bernstein Litowitz Berger & Grossmann LLP (New York, NY), Martin & Drought, P.C. (San Antonio, TX)
Defendants
Kevin B. Thompson, Tim Brown, Thoma Bravo
Judge
Hon. Robert Pitman
Administrator
EPIQ
Court hearing date
28 July 2023
Exclusion deadline
07 July 2023
Objection deadline
07 July 2023
+$26,000,000
Total Settlement Amount