Security News > 2021 > January > Class Action Lawsuit Filed Against SolarWinds Over Hack
A class action lawsuit was filed on behalf of SolarWinds investors this week over the cybersecurity breach suffered by the Texas-based IT management solutions provider.
The complaint names SolarWinds, as well as Kevin Thompson, who served as the company's CEO until just days before the incident was disclosed, and Barton Kalsu, executive VP and CFO of SolarWinds.
The lawsuit points out that the value of SolarWinds shares decreased significantly following the disclosure of the cyberattack - from nearly $24 per share to roughly $18 a few days after the breach came to light.
SolarWinds investors can join the class action until March 5.
An investigation has been launched into whether SolarWinds executives were aware of the breach when they decided to sell hundreds of millions of dollars worth of stock just before the hack came to light.
Investigations into the SolarWinds attack are now trying to determine whether the company was also targeted by a second, unrelated threat actor, that apparently may have leveraged a zero-day vulnerability affecting SolarWinds products and a piece of malware named Supernova.