LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of SolarWinds Corporation (“SolarWinds” or “the Company”) (NYSE: SWI) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Reuters reported on December 13, 2020, that state-sponsored hackers are believed to have penetrated the IT systems of federal government agencies by manipulating software updates released by SolarWinds. The Company disclosed on December 14, 2020, that the hackers targeted its Orion monitoring product, interfering with updates between March and June 2020. Based on this news, shares of SolarWinds dropped by 17% on December 14, 2020.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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