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SolarWinds Inc (NYSE: SWI) Investor Securities Class Action Lawsuit 07/31/2015

  • If you purchased shares of SolarWinds Inc (NYSE: SWI), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
SolarWinds, Inc.
Security
NYSE: SWI

Case Name
SolarWinds Shareholder Class Action Lawsuit 07/31/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Western District of Texas

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Summary

September 17, 2015 - The case was voluntarily dismissed.

July 31, 2015 - An investor in shares of SolarWinds Inc (NYSE: SWI) filed a lawsuit in the U.S. District Court for the Western District of Texas over alleged violations of Federal Securities Laws by SolarWinds Inc in connection with certain allegedly false and misleading statements made between April 28, 2015 and July 16, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of SolarWinds Inc (NYSE: SWI) common shares between April 28, 2015 and July 16, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between April 28, 2015 and July 16, 2015 defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose, among others that SolarWinds Inc’s domestic business was struggling against the Company’s expectations, that SolarWinds Inc’s license sales growth of core license products and resulting license revenue was lower than expectations and guidance, that the overall quality of the “demand capture” SolarWinds Inc was garnering for certain core products was dropping, and, that, as a result of the foregoing, defendants’ statements were materially false and misleading at all relevant times. SolarWinds Inc reported that its annual Total Revenue rose from $335.38 million in 2013 to $428.71 million in 2014 and that its respective Net Income declined from $89.78 million to $78.11 million. Shares of SolarWinds Inc (NYSE: SWI) grew from $32.18 per share in November 2013 to as high as $53.32 per share in late 2014, respectively $52.69 per share in March 2015.

On July 16, 2015 SolarWinds Inc reported results for its second quarter ended June 30, 2015 and provided its financial outlook for its third quarter of 2015 and full year of 2015. Shares of SolarWinds Inc (NYSE: SWI) declined on July 17, 2015 to as low as $35.00 per share.