On December 13, 2020, Reuters reported that SolarWinds disclosed that “monitoring products it released in March and June of this year may have been surreptitiously tampered with in a ‘highly-sophisticated, targeted and manual supply chain attack by a nation state.’” Reuters also reported that the SolarWinds’ hack “was used to compromise the company’s emails” and possibly gather other data as well.
Following this news, shares of SolarWind’s stock declined $3.93 per share, or nearly 17% in value, to close on December 14, 2020 at $19.62 per share, on heavy trading volume. Shares of the Company’s stock continued to decline in value over the following days as additional information about the hack was disclosed to investors.
The investigation seeks to determine whether SolarWinds and/or the company’s officers and directors have violated the securities laws or breached their fiduciary duties in connection with the above.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
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