SolarWinds shareholder files class action suit against company after hack

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The lawsuit claims that the company's CEO and CFO allowed the company to release 'materially false and misleading' statements hiding known software vulnerabilities that led to a massive hack.

On 1/4/21 at 8:47 PM ESTA man named Timothy Bremer has filed a class-action against the CEO and CFO of SolarWinds, a U.S. company offering information technology monitoring and management tools.

Specifically, Bremer alleges that Thompson and Kalsu repeatedly signed off on a misleading passage from the company's 2019 Form 10-K, an annual report required by the U.S. Securities and Exchange Commission that comprehensively summarizes a company's financial performance.

 

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