Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into SolarWinds Corporation (NYSE: SWI).
In December 2020, news outlets reported that the Company was the target of a massive cyberattack that exploited the Company’s monitoring software to infiltrate government agencies and private-sector companies, which the Company confirmed the next day, disclosing that a “vulnerability was inserted within the Orion products and existed in updates released between March and June 2020.” Subsequent news reports revealed that the Company had been made aware of the vulnerabilities the prior year and that even after being aware that their software had been compromised, the malicious updates were still available for download, which ultimately ensnared nine government agencies and more than 100 other organizations.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.
KSF’s investigation is focusing on whether SolarWinds’ officers and/or directors breached their fiduciary duties to SolarWinds’ shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.