SAN FRANCISCO, Dec 15, 2020 (GLOBE NEWSWIRE) – Hagens Berman urges SolarWinds Corporation (NYSE: SWI) Investors with significant losses can file their losses now. Certain investors may have valuable claims. The company also welcomes contacts from people who may be able to assist with the investigation.
Investigation by SolarWinds Corporation (SWI):
The investigation focuses on whether SolarWinds has misled investors about the security of its IT surveillance products.
Specifically, on December 13, 2020, Reuters reported that hackers believed to be working for Russia were monitoring email traffic in the US finance and trade departments and that the cyberspies were publicizing SolarWinds through covert manipulation Updates that have penetrated the US have served government clients in the executive, military and intelligence agencies.
On December 14, 2020, SolarWinds announced that there was evidence that the vulnerability was incorporated into its Orion monitoring products and was present in updates released between March and June 2020.
This news caused the price of the SolarWinds share to drop significantly.
Most recently on December 15, 2020 Reuters reported that (1) security researcher Vinoth Kumar SolarWinds pointed out last year that anyone with the password “solarwinds123” can access the company’s update server, and (2) Kyle Hanslovan, co-founder of cybersecurity company Huntress, did so for days after SolarWinds has noticed your software has been compromised. The malicious updates were still available for download.
This news caused the price of the SolarWinds share to drop significantly again.
“We’re concentrating on who at SolarWinds knew about the vulnerabilities and when,” said Reed Kathrein, Hagens Berman partner who led the investigation.
If you are a SolarWinds investor and are experiencing significant losses or have knowledge that may aid the company’s investigation, click here to discuss your statutory rights with Hagens Berman.
Whistleblower: Individuals with nonpublic information about SolarWinds Corporation should review their options to help with the investigation or to use the SEC’s whistleblower program. Under the new program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. Further information is available from Reed Kathrein at 844-916-0895 or send an email to [email protected]
About Hagens Berman
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Reed Kathrein, 844-916-0895