Case Page

 

Case Status:    DISMISSED    
On or around 09/22/2015 (Court's order of dismissal)

Filing Date: July 31, 2015

According to the law firm press release, SolarWinds and its subsidiaries design, develop, market, sell and support enterprise-class information technology (“IT”) infrastructure management software to IT professionals in organizations of all sizes. The Company’s products are purportedly designed to help enable efficient and effective management of IT networks, systems and application infrastructure.

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 the Company’s 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 the Company’s 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.

This case was voluntarily dismissed on September 17, 2015.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SWI
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: W.D. Texas
DOCKET #: 15-CV-00652
JUDGE: Hon. Sam Sparks
DATE FILED: 07/31/2015
CLASS PERIOD START: 04/28/2015
CLASS PERIOD END: 07/16/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Kendall Law Group, LLP
    3232 McKinney, Ste 700, Kendall Law Group, LLP, TX 75204
    214.744.3000 214.744.3000 ·
  3. Law Offices of Howard G. Smith
    3070 Bristol Pike, Suite 112, Law Offices of Howard G. Smith, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date