Investigation Overview
July 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors of SolarWinds Inc (NYSE:SWI) shares over potential securities laws violations by SolarWinds Inc and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of SolarWinds Inc (NYSE:SWI) concerning whether a series of statements by SolarWinds regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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.