Solarwinds "Cybersecurity" shortfall Investors $26M Settlement

SolarWinds (SWI) agreed to pay $26 million to settle a securities class action lawsuit to avoid further litigation.

The complaint alleged that the Company and its Leaders made false and/or misleading statements and/or failed to disclose that:

• since mid-2020, SolarWinds Orion monitoring products had a vulnerability that allowed hackers to compromise the server upon which the products ran;

• SolarWinds' update server had an easily accessible password of 'solarwinds123';

• consequently, SolarWinds' customers, including, among others, the Federal Government, Microsoft, Cisco, and Nvidia, would be vulnerable to hacks;

All persons and entities who purchased or otherwise acquired the common stock of SolarWinds from October 18, 2018, through December 17, 2020, may be entitled to payouts.