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NEW YORK, Aug. 05, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been commenced in the United States District Court for the Western District of Texas on behalf of all persons or entities that purchased or otherwise acquired SolarWinds, Inc. ("SolarWinds" or the "Company") (NYSE:SWI) securities between April 28, 2015 and July 16, 2015, inclusive (the "Class Period"). Shareholders of SolarWinds are urged to contact the firm immediately at firstname.lastname@example.org or (800) 575-0735 or (212) 545-4774.
If you purchased SolarWinds securities during the Class Period, you may, no later than September 29, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of all class members in directing the litigation.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose, among others: (1) that the Company's domestic business was struggling; (2) that the Company's 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, SolarWinds announced that its second quarter earnings failed to meet its revenue forecast. Additionally, SolarWinds lowered its full-year 2015 outlook from $512-$527 million to $502-$512 million. On this news, shares of SolarWinds fell $11.51 per share, or over 24%, to close at $35.54 per share on July 17, 2015.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at email@example.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “SolarWinds Investigation.”
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Contact: Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan, Esq. Gregory Stone, Director of Case and Financial Analysis Email: firstname.lastname@example.org, email@example.com or firstname.lastname@example.org Tel: (800) 575-0735 or (212) 545-4774NEXT ARTICLE
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