Cases
SolarWinds, Inc. (NYSE: SWI)
Securities Class Action
Overview
Overview
- Date:
- 12/29/2015
- Company Name:
- SolarWinds, Inc.
- Stock Symbol:
- SWI
- Class Period:
- FROM 12/14/2015 TO 12/14/2015
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Western Texas
NEW YORK, December 29, 2015 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of all stockholders of SolarWinds, Inc. (NYSE: SWI) securities on December 14, 2015 (the “Class Period”).
The lawsuit charges SolarWinds and its Board of Directors with breaches of fiduciary duty, aiding and abetting breaches of fiduciary duty and violations of the Securities Exchange Act of 1934 in connection with the proposed acquisition of the company by Thoma Bravo and Silver Lake Partners and Project Aurora Holdings, LLC and Project Aurora Merger Corp.
On November 17, 2015, SolarWinds filed a Preliminary Proxy Statement on Form 14A and on December 15, 2015, a Definitive Proxy Statement on Form 14A in connection with the proposed acquisition. The suit alleges that the proxy statements, which recommend that SolarWinds shareholders vote in favor of the proposed acquisition, omits and misrepresents material information regarding, among other things, the unfair sales process for SolarWinds, conflicts of interest that corrupted the sales process, the unfair consideration offered, and the actual intrinsic value of the company on a stand-alone basis. Without this material information, the SolarWinds' stockholders cannot make an informed decision on how to cast their vote on the proposed acquisition.
If you held SolarWinds securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The lawsuit charges SolarWinds and its Board of Directors with breaches of fiduciary duty, aiding and abetting breaches of fiduciary duty and violations of the Securities Exchange Act of 1934 in connection with the proposed acquisition of the company by Thoma Bravo and Silver Lake Partners and Project Aurora Holdings, LLC and Project Aurora Merger Corp.
On November 17, 2015, SolarWinds filed a Preliminary Proxy Statement on Form 14A and on December 15, 2015, a Definitive Proxy Statement on Form 14A in connection with the proposed acquisition. The suit alleges that the proxy statements, which recommend that SolarWinds shareholders vote in favor of the proposed acquisition, omits and misrepresents material information regarding, among other things, the unfair sales process for SolarWinds, conflicts of interest that corrupted the sales process, the unfair consideration offered, and the actual intrinsic value of the company on a stand-alone basis. Without this material information, the SolarWinds' stockholders cannot make an informed decision on how to cast their vote on the proposed acquisition.
If you held SolarWinds securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.