Haeggquist & Eck, LLP Is Investigating Claims Against SolarWinds Corporation’s Directors & Officers for Breach of Fiduciary...
February 25 2021 - 6:00PM
Business Wire
Haeggquist & Eck, LLP, a leading shareholder rights
litigation firm, is investigating whether certain directors and
officers of SolarWinds Corporation (“SolarWinds”) (NYSE:SWI)
breached their fiduciary duties to SolarWinds and its shareholders.
If you are a SolarWinds shareholder, you are encouraged to contact
Amber Eck at Haeggquist & Eck for additional information.
SolarWinds provides information technology (“IT”) infrastructure
management software products in the United States and
internationally. Haeggquist & Eck is investigating whether
members of SolarWinds’s Board of Directors failed to manage
SolarWinds in an acceptable manner, in breach of their fiduciary
duties to SolarWinds, and whether SolarWinds has suffered damages
as a result.
Securities fraud class action lawsuits have been filed against
SolarWinds alleging it made 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
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, SolarWinds’
statements about its business, operations and prospects were
materially false and misleading.
On December 13, 2020, SolarWinds disclosed that its Orion
monitoring products may have been implicated in alleged hacks of
governmental email traffic by Russia. Then, on December 15, 2020,
Reuters published an article stating that, last year, security
researcher Vinoth Kumar “alerted the company that anyone could
access SolarWinds’ update server by using the password
‘solarwinds123.’”
What You Can Do
If you are a SolarWinds shareholder, you may have legal claims
against its directors and officers. If you have questions about
your legal rights, please contact attorney Amber Eck at
619-342-8000 or e-mail her at ambere@haelaw.com. There is no cost
or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in
shareholder rights law. The firm represents individual investors in
shareholder derivative lawsuits, and members of the firm have
helped shareholders recover more than $1 billion of value for
themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do
not guarantee a similar outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20210225006273/en/
Haeggquist & Eck, LLP 619-342-8000 Amber Eck,
ambere@haelaw.com
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