SolarWinds Securities Litigation

The information contained on this web page is only a summary of information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Fairness Hearing; and (III) Motion for Attorneys’ Fees and Litigation Expenses (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.

The Court-appointed Lead Plaintiff, New York City District Council of Carpenters Pension Fund (“Lead Plaintiff”), on behalf of itself and the other members of the Settlement Class, has reached a proposed settlement of this action captioned In re SolarWinds Corporation Securities Litigation, Case No. 1:21-cv-138-RP, pending in the United States District Court for the Western District of Texas Austin Division (the “Action”), with defendants SolarWinds Corporation (“SolarWinds” or the “Company”), Kevin B. Thompson, Timothy Brown, Silver Lake Group L.L.C., Silver Lake Technology Management, L.L.C., and Thoma Bravo, LP (collectively, "Defendants") for $26 million in cash (the “Settlement”). If approved by the Court, the Settlement will resolve all claims in the Action.

If you are a member of the Settlement Class, your rights will be affected and you may be eligible for a payment from the Settlement. The Settlement Class consists of:

all persons and entities who purchased or otherwise acquired the common stock of SolarWinds from October 18, 2018 through December 17, 2020, inclusive (the “Class Period”), and who were damaged thereby, except for certain persons and entities who are excluded from the Settlement Class by definition (see paragraph 25 of the Notice) or who request exclusion pursuant to the instructions in the Notice (see paragraphs 55-58 of the Notice).

Please read the Notice to fully understand your rights and options.

If you are a member of the Settlement Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked (or submitted online) no later than July 7, 2023.

Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.

IMPORTANT DATES AND DEADLINES:

July 7, 2023 Claim Filing Deadline	To be eligible to receive a payment from the Settlement, you must mail the Claim Form and supporting documents, postmarked no later than July 7, 2023, or submit online by that date, in accordance with the instructions in the Notice and Claim Form.
July 7, 2023 Exclusion Deadline	To exclude yourself from the Settlement Class, you must submit a written request for exclusion so that it is received no later than July 7, 2023, in accordance with the instructions in the Notice.
July 7, 2023 Objection Deadline	Any objections to the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses must be received no later than July 7, 2023, in accordance with the instructions in the Notice.
July 28, 2023 at 2:00 p.m. Settlement Fairness Hearing	To attend the Settlement Fairness Hearing and/or ask to speak in Court about the fairness of the Settlement, see the instructions in the Notice. The Settlement Fairness Hearing will be held on July 28, 2023 at 2:00 p.m. before the Honorable Robert Pitman at the United States District Court for the Western District of Texas, Austin Division, Courtroom 4 of the United States Courthouse, 501 West Fifth Street, Austin, TX 78701.