LOS ANGELES, Dec. 18, 2020 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”), a national investor rights law firm, continues its investigation on behalf of SolarWinds Corporation (“SolarWinds” or the “Company”) (NYSE: SWI) investors concerning the Company and its officers’ possible violations of the federal securities laws.

If you suffered a loss on your SolarWinds investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/solarwinds-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On December 13, 2020, Reuters reported hackers have been monitoring email traffic at the U.S. Treasury and Commerce departments. The hackers are believed to have breached the emails 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, the Company disclosed that “a vulnerability [was inserted] within its Orion monitoring products which, if present and activated, could potentially allow an attacker to compromise the server on which the Orion products run.” The vulnerability was inserted in Orion products downloaded, as well as updates released, between March and June 2020.

On this news, the Company’s stock price fell $3.93, or 17%, to close at $19.62 per share on December 14, 2020, thereby injuring investors.

Then, on December 15, 2020, Reuters reported that Vinoth Kumar, a security researcher, alerted the Company last year that anyone could access SolarWinds’ update server by using the password “solarwinds123.” The article also reported that co-founder of cybersecurity company Huntress, Kyle Hanslovan, noticed the malicious updates were still available for download even days after SolarWinds was aware their software was compromised.

On this news, the Company’s stock price fell $1.56, or 8%, to close at $18.06 per share on December 15, 2020, thereby injuring investors further.

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Whistleblower Notice: Persons with non-public information regarding SolarWinds should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email shareholders@glancylaw.com.

About GPM
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.

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Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles H. Linehan, 310-201-9150 or 888-773-9224
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
www.glancylaw.com  
shareholders@glancylaw.com