INVESTOR ALERT: MELWANI & CHAN LLP Announces Securities Class Action Lawsuit Against Solarwinds, Inc. And Advises Shareholders To Contact The Firm Prior To The Lead Plaintiff Deadline September 29, 2015
NEW YORK–MELWANI & CHAN LLP announces that a class action lawsuit has been filed in the United States District Court for the Western District of Texas against Solarwinds, Inc. (“Solarwinds” or the “Company”) (NYSE: SWI), for alleged violations of the federal securities laws. Investors who purchased or otherwise acquired shares between April 28, 2015 and July 16, 2015, inclusive (the “Class Period”), have until September 29, 2015 to serve as lead plaintiff in the class action.
If you are a shareholder who suffered a loss during the Class Period, we advise you to contact Michael Chan or Anil Melwani, of MELWANI & CHAN LLP of 55 West End Avenue, Suite 17-D, New York, NY 10023 at 646-580-8860, to discuss your rights without cost to you. You can also reach us through the firm’s website at http://www.melwanichan.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
Solarwinds is a Austin, Texas company that designs, develops, markets, sells and supports enterprise-class information technology (IT), infrastructure management software to IT and DevOps professionals in organizations of all sizes.
The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about Solarwinds, Inc.’s (“Solarwinds” or the “Company”) business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose, among others: (1) that the Company’s domestic business was struggling against the Company’s expectations; (2) that SolarWinds’ license sales growth of core license products and resulting license revenue was lower than expectations and guidance; (3) that the overall quality of the “demand capture” the Company was garnering for certain core products was dropping; and, (4) that, as a result of the foregoing, defendants’ statements were materially false and misleading at all relevant times. On July 16, 2015, after the market closed, the Company disclosed its revenues for the second quarter of 2014 fell below analyst expectations and lowered revenue guidance for the next few quarters.
If you have any questions concerning your legal rights in this case, please immediately contact MELWANI & CHAN LLP at 646-580-8860, or visit our website at http://www.melwanichan.com, or email us at firstname.lastname@example.org.
MELWANI & CHAN LLP represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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MELWANI & CHAN LLP, New York
Anil M. Melwani, Esq. 646-580-8860
Michael Chan, Esq. 646-580-8860