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SolarWinds $26 Million Investor Deal Warrants Nod, Court Told

Dec. 9, 2022, 6:03 PM

A $26 million class settlement with SolarWinds Corp. resolving a suit alleging it failed to tell investors about security vulnerabilities before a massive cyberattack warrants early approval, a Thursday court filing said.

The settlement represents an excellent result for the investors, lead plaintiff New York City District Council of Carpenters Pension Fund told Judge Robert Pitman of the US District Court for the Western District of Texas.

  • Investors alleged the technology company misled them about its security practices before disclosing a suspected Russian hack in late 2020, causing the value of the stock to drop
  • Pitman ruled in March that ...