| Company: | Solar Winds Inc |
| Ticker Symbol: | SWI |
| Class Period: | Feb-8-10 to Jul-21-10 |
| Date Filed: | Oct-18-10 |
| Lead Plaintiff Deadline: | Dec-17-10 |
| Court: | Northern District of Texas |
| Allegations: | |
The Complaint charges SolarWinds and certain of its officers and directors with violations of federal securities laws. Specifically, the Complaint alleges that the defendants issued materially false statements regarding the Company's operations, financial results and outlook. According to the Complaint, defendants misrepresented and failed to disclose material problems with SolarWinds' license revenues and sales to the U.S. federal government, as well as material problems within the Company's sales management team that prevented SolarWinds from accurately predicting the Company's ability to make and maintain sales.
On July 21, 2010, the Company cut its revenue guidance. Defendants revealed there had been a 44% decline in U.S. federal government sales that was caused by the inability of the Company's "US federal sales management team to predict and positively influence" the pace of sales. On July 22, 2010, multiple analysts downgraded SolarWinds' stock. In response to the Company's announcement and analyst downgrades, SolarWinds common stock fell 23% to close at $12.71 on July 22, 2010.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
