Latest news with #SolarWindsCorp
Reuters
a day ago
- Business
- Reuters
US SEC, SolarWinds reach preliminary deal to end breach lawsuit
NEW YORK, July 2 (Reuters) - The U.S. Securities and Exchange Commission has reached a deal in principle with SolarWinds Corp and its top security officer to end litigation tied to a Russia-linked cyberattack involving the software firm, they said in a court filing on Wednesday. The SEC, SolarWinds and its chief information security officer, Timothy Brown, asked a federal judge on Wednesday to stay court proceedings while they finalize paperwork for a settlement. The judge granted their motion, filings showed. In what was seen as a landmark case, the SEC sued the software company and its top security executive in connection with a two-year cyberattack known as Sunburst that targeted Austin, Texas-based SolarWinds. A judge dismissed much of the regulator's case last year. The SEC had said that the defendants defrauded investors by concealing security weaknesses, but U.S. District Judge Paul Engelmayer, who approved the stay, had said that the claims were based on "hindsight and speculation." An SEC spokesperson declined to comment on the matter beyond the public filings. SolarWinds did not immediately respond to requests for comment. The parties said they planned to file settlement paperwork or a joint status report by September 12.
CNA
a day ago
- Business
- CNA
US SEC, SolarWinds reach preliminary deal to end breach lawsuit
NEW YORK :The U.S. Securities and Exchange Commission has reached a deal in principle with SolarWinds Corp and its top security officer to end litigation tied to a Russia-linked cyberattack involving the software firm, they said in a court filing on Wednesday. The SEC, SolarWinds and its chief information security officer, Timothy Brown, asked a federal judge on Wednesday to stay court proceedings while they finalize paperwork for a settlement. The judge granted their motion, filings showed. In what was seen as a landmark case, the SEC sued the software company and its top security executive in connection with a two-year cyberattack known as Sunburst that targeted Austin, Texas-based SolarWinds. A judge dismissed much of the regulator's case last year. The SEC had said that the defendants defrauded investors by concealing security weaknesses, but U.S. District Judge Paul Engelmayer, who approved the stay, had said that the claims were based on "hindsight and speculation."
Yahoo
24-04-2025
- Business
- Yahoo
SolarWinds Corp (SWI): Among the Tech Stocks That Are Up the Most So Far in 2025
We recently compiled a list of the . In this article, we are going to take a look at where SolarWinds Corp (NYSE:SWI) stands against the other tech stocks. Most tech stocks haven't been doing well so far this year, but this isn't a problem that all tech stocks face. The technology sector is broad, and there are always some stocks that still do well regardless of the broader market environment. Many of these companies are leading the way in artificial intelligence, cloud computing, and cybersecurity. Their ability to adapt and launch new solutions has set them apart from the pack. For example, firms that reported robust growth in large customer contracts or unveiled breakthrough AI tools have seen their shares surge, even as industry giants have struggled with market volatility. It's worth looking into these winners if you're looking for opportunities in this market. For this article, I screened the best-performing tech stocks year-to-date. I will also mention the number of hedge fund investors in these stocks. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). A systems administrator sitting at their desk surrounded by computer monitors, overseeing a complex infrastructure. Number of Hedge Fund Holders In Q4 2024: 21 SolarWinds Corp (NYSE:SWI) is a provider of simple, powerful, secure observability and IT management software for hybrid and multi-cloud environments. The stock is up significantly so far in 2025 due to the announcement that the company will be acquired by private equity firm Turn/River Capital in an all-cash transaction valued at $4.4 billion. The deal offers shareholders $18.50 per share, which implies a 35% premium over the average closing price of SolarWinds stock during the previous 90 trading days. This acquisition was unanimously approved by SolarWinds' board of directors and is expected to close in the second quarter of 2025. While awaiting the completion of the acquisition, SolarWinds has continued to enhance its business operations. The company unveiled improvements to its Partner Program on February 4, 2025. It focuses on three key areas: increasing partner profitability, enhancing partner capabilities, and providing partners with the tools needed to succeed. SolarWinds also announced on April 8, 2025, that it would participate in the GITEX 2025 global events to showcase its latest product innovations. Once the transaction is finalized, SolarWinds Corp (NYSE:SWI) will transition to a privately held company, and its stock will no longer be traded on the New York Stock Exchange. The consensus price target of $18 implies 2.65% downside. SWI stock is up 29.75% year-to-date. Overall SWI ranks 14th on our list of the tech stocks that are up the most so far in 2025. While we acknowledge the potential of SWI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than SWI but that trades at less than 5 times its earnings, check out our report about this . READ NEXT: and . Disclosure: None. This article is originally published at . Sign in to access your portfolio
Bloomberg
07-02-2025
- Business
- Bloomberg
Turn/River Agrees to Buy SolarWinds Years After Cyber-Attack
Turn/River Capital agreed to buy SolarWinds Corp. in a deal worth $4.4 billion, including debt, more than four years after the software provider was at the center of a Russian cyber-attack. The private equity firm is paying $18.50 per share in cash for Austin-based SolarWinds, according to a statement Friday. That represents a 35% premium to its volume-weighted average closing price for the 90 trading days ending Feb. 6, the statement said.
