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INVESTIGATION ALERT: Nationally Ranked Shareholder Rights Law Firm Labaton Sucharow is Investigating SolarWinds Corporation (NYSE: SWI) For Potential Securities Violations

·1 min read

NEW YORK, NY / ACCESWIRE / January 28, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights litigation firm, is investigating potential securities violations against information technology company SolarWinds Corporation (NYSE:SWI) in connection with the vulnerability of its servers to software breaches and cyberattacks.

If you currently own shares of SolarWinds and want to receive additional information and protect your investments free of charge, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at dschwartz@labaton.com.

About the Firm
Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at http://www.labaton.com.

Contact
David J. Schwartz
(800) 321-0476
dschwartz@labaton.com

SOURCE: Labaton Sucharow LLP



View source version on accesswire.com:
https://www.accesswire.com/626638/INVESTIGATION-ALERT-Nationally-Ranked-Shareholder-Rights-Law-Firm-Labaton-Sucharow-is-Investigating-SolarWinds-Corporation-NYSE-SWI-For-Potential-Securities-Violations

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  • Major GameStop Shareholder Sells Entire Stake

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  • Mark Cuban’s Advice for Day Traders Who ‘Get Long and Get Loud’

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  • Robinhood halts buying of GameStop and other hot stocks, infuriating users

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    (Bloomberg) -- In a Reddit post last week, a day trader who helped push GameStop Corp. shares to record highs said he stopped by his local store to hand out $100 bills to employees as a thank-you. He encouraged other traders who’d seen a windfall to do the same.“They are a part of the reason we are up so much,” the trader posted, attracting 442 comments.But other than some handed-out cash, GameStop employees won’t be sharing in the riches.Reddit day traders have enjoyed massive gains in GameStop’s stock, which reached a closing high of $347.51 on Wednesday. Though the shares dropped as much as 32% on Thursday, they remain up roughly 1,200% this year. The retailer’s employees, meanwhile, have suffered from shuttered stores, wages they see as subpar and the struggles of working during the Covid-19 pandemic.More than 1,000 stores are slated to go dark during GameStop’s fiscal year ending in January. And the company plans to close more stores in the coming year.GameStop staffers who keep their jobs typically make around $11 an hour, according to Salary.com. That’s lower than at Walmart. Retail sales positions on GameStop’s site ask for a high-school diploma and six months of regular work experience.Against that backdrop, the stock runup -- goosed by the Reddit subgroup r/WallStreetBets -- has left a bad taste in the mouth of some.“Honestly it just sucks that people care more about the stock going up than the fact GameStop squeezes everything it can out of its employees,” according to a Redditor who goes by Angel. He says he worked at a GameStop in Texas for 10 years.Many stores require employees “to do the job of two to three people in a day,” Angel, who asked not to give his real name, said in an email. “Most don’t get breaks, and there’s huge scrutiny to meet the increasing performance goals. And if you don’t hit them it’s because ‘you aren’t trying hard enough’ and if you do it’s because ‘the goals are too low.’”GameStop, based in the Dallas suburb of Grapevine, declined to comment on its employee policies.Wage ComplaintsAnother Reddit user, Azrane, who also identified as a GameStop employee, noted that the stock performance has no bearing on employees beyond the executive suite.Azrane said it was “tone-deaf and infuriating” to see people from r/WallStreetBets “celebrate how much money they have made on the stock when this company will never pay its workers a fair living wage that leaves us happy, comfortable, and not having to live with the threat of getting sick and missing work looming over our heads.”The Reddit group dedicated to GameStop is filled with discussions by users identifying themselves as employees. There, the stock drama isn’t front and center. Complaints are more likely to be about being short-staffed and dealing with clueless customers.But the stock rally could ultimately benefit employees by improving the company’s fortunes, said David Cole, head of research firm DFC Intelligence.“A lot of the runup is from smaller investors who are personal fans of the company,” he said. “It shows that there is a lot of love out there for GameStop. Even if the bubble bursts, the eventual reality is likely to be better than before when GameStop was written off for dead and investors were basically taking death bets.”The rally -- if it lasts -- could help GameStop raise more money for a turnaround strategy, either by selling stock at higher prices or refinancing. And that might save jobs.“GameStop is in a unique position now where they do have choices,” said John Patrick Lee, product manager at VanEck, an investment firm that doesn’t own shares in the retailer. “With this new market value, they have an opportunity now to move toward the future of the video-game market. Do they integrate with an esports team? Do they take their physical stores and convert them into a place where people play games? They have options where they used to not have options.”GameStop is slated to provide a strategy update in January. In the last few weeks, it gained three board members, including activist investor Ryan Cohen, the former head of pet-supply site Chewy.com.Cohen has bold ambitions for the chain, such as adding more merchandise and taking on Amazon.com Inc.But for employees, the most pressing issue may be when GameStop’s resurgence will reach them.(Updates shares in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Mark Cuban, Dave Portnoy, AOC and others react to Robinhood restricting trades on GameStop and AMC

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(BLRX) We’ll start with BioLineRx, a clinical stage biopharma company focused on developing new cancer treatments. Oncology is a major field for cutting edge biopharmas. Cancer is frequently deadly, and frequently resistant to current treatments – and those treatments themselves will frequently cause severe side effects in patients. BioLineRx has an active pipeline of drug candidates, but the most advanced is motixafortide, a synthetic peptide which has completed patient enrollment in a Phase 3 study on stem cell mobilization for autologous bone-marrow transplantation. The drug is being studied for its efficacy in promoting the harvesting of bone marrow prior to the cancer treatment. Results from a pre-planned interim analysis showed ‘statistically significant evidence favoring treatment with motixafortide in the primary endpoint,’ evidence which was so significant that the enrollment was completed early, with 122 patients instead of 177. 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The company boasts a catalyst-rich, deep oncology pipeline that has attracted collaborations with Novartis, Merck, and Genentech.” Given all of the above, Breidenbach rates BLRX as a Buy, and his $11 price target suggests a whopping 358% upside for the year ahead. (To watch Breidenbach’s track record, click here) The rest of the Street appears to echo Breidenbach’s bullish sentiment. As it has racked up 3 Buys and no Holds or Sells, the consensus is unanimous: BLRX is a Strong Buy. Adding to the good news, the upside potential lands at ~428% based on the $12.67 average price target. (See BLRX stock analysis on TipRanks) Kindred Biosciences (KIN) While most biotech companies focus on human medications, we are not the only market. Kindred biosciences is biopharmaceutical company in the veterinary market, developing biologic medications to improve the lives of our pets and working animals. The company describes its mission as ‘[bringing] to pets the same kinds of safe and effective medicines that human family members enjoy.’ Parvovirus (CPV) is a highly infectious, and highly lethal, viral disease affecting dogs. While vaccines are available, untreated cases can see upwards of 91% mortality. Kindred’s main pipeline drug, KIND-030 is under development as a treatment for this disease. Currently, the drug candidate is following two paths in the development process – one for treatment of established infections, and one as a prophylactic preventative treatment for CPV. The prophylactic study has shown positive results, with treated dogs all avoiding infection, while all dogs in the placebo group developed parvovirus disease. KIND-030 also showed a mortality benefit when given as a treatment for infection. The drug candidate is in the pivotal study stage of development, the last before potential approval. 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The stock has an average price target of $10.25, which suggests room for ~124% growth from the current trading price of $4.59. (See KIN stock analysis on TipRanks) To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Silver Is the Latest Market Hit by Reddit Day-Trader Frenzy

    (Bloomberg) -- Reddit investors have discovered silver, with everything from silver miners, silver ETFs and the actual price of the physical metal itself soaring on Thursday.The first signs came late Wednesday, when comments appeared on internet chatroom r/wallstreetbets, the same investor board that started the wild short squeeze in Gamestop Corp. and other companies. The comments centered on iShares Silver Trust, the biggest exchange-traded instrument backed by the metal, calling it “THE BIGGEST SHORT SQUEEZE IN THE WORLD,” and citing banks manipulating gold and silver prices.Precious metals have long been the home of conspiracy theorists ranting against central banks and big government, which may make it fertile ground for retail investors’ rage against the financial machine. While commodities markets are hardly immune from wild swings, they typically have a much higher barrier to entry, so squeezes tend to come from actions by institutional, rather than retail, investors.Small miners had the biggest moves, though the physical metal also rallied. First Majestic Silver Corp., which was cited as a short-squeeze target, soared as much as 39% in New York on Thursday, while iShares Silver Trust gained as much as 7.2% and spot silver gained 6.8%, the biggest jump since August.“There’s a short squeeze going on in silver. The ‘hoodies are all rolling into silver and the party is on,” Phil Streible, chief market strategist at Blue Line Futures LLC in Chicago, said in a phone call. “All those other stocks like GameStop and AMC, they’re dumping because they’ve been restricted, and they gotta go into other short opportunities and silver is an easy identifiable target.”The economic data that came out Thursday morning, which included a larger-than-expected drop in jobless claims, have become “a moot point” for traders, Bob Haberkorn, senior market strategist at RJO Futures said by phone. “This isn’t predicated on any global events, it’s just people on a message board putting all their guns towards the precious metals markets.”Options markets were bid up in the frenzy, with traders and brokers seeing wide bid/ask spreads on the IShares and Comex contracts.“The implied volatility being quoted in the options market at this moment is wider than I’ve ever witnessed.” James Gavilan, principal and adviser at Gavilan Commodities LLC, said in a phone interview. “The market is factoring in large swings in the silver price, and an already illiquid market is showing extremely wide quotes for options, which means that traders are concerned about the difficulty of hedging their positions.”To see such wide volatility spreads is “mind boggling, breath taking, it’s shocking really,” said Gavilan.The buying in silver and gold spilled over to the base metals complex on the London Metal Exchange, with copper erasing early losses, while “Chinese night desks buying” also helped the metal, according to Tai Wong, head of metals derivatives trading at BMO Capital Markets. Copper for three-month delivery rose 0.7% to $7,910 a ton in London.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Apple Had a Huge Quarter. Why the Stock Is Down Anyway.

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  • Elon Musk Says Discord Gone 'Corpo' After It Takes Down WallStreetBets

    Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk expressed his disappointment with Discord after the platform took down WallStreetBets from its platform. What Happened: “Even Discord has gone corpo ...,” the world’s richest person said in a tweet late Wednesday. Discord had taken down WallStreetBets earlier in the evening, saying the community continued to allow hateful and discriminatory content despite repeated warnings. The company said the action didn’t have any relation to WallStreetBets’ role in the surge of GameStop Corp.’s (NYSE: GME) stock. WallStreetBets moderators described the Discord action as “pretty unethical.” “I am not impressed with them destroying our community instead of stepping in with the wrench we may have needed to fix things, especially after we got over 1,000 server boosts,” one of the group moderators said. The community also went briefly private on Reddit as it looked to ramp up moderation and avoid a similar fate on the platform as Discord. “We've got so many comments and submissions that we can't possibly even read them all, let alone act on them as moderators,” u/zjz, a community moderato, added. Why It Matters: Musk had earlier touted support for the WallStreetBets community on Tuesday evening, sending the stock soaring further. Gamestonk!! https://t.co/RZtkDzAewJ — Elon Musk (@elonmusk) January 26, 2021 GameStop, BlackBerry Ltd. (NYSE: BB), Nokia Oyj (NYSE: NOK), AMC Entertainment Holdings Inc (NYSE: AMC) and other stocks seeing the short-squeeze interest of the Reddit community tanked in the after-hours session Wednesday after Discord’s action. Price Action: GameStop traded 16% lower at $292 after a 134.84% surge during the regular session. BlackBerry tanked 9.8% at $22.6 after a 32.6% spike during regular hours. Nokia traded 9.5% lower at $5.93 after a 38.5% surge during the regular session. AMC shares tanked 26.6% after a 301.21% surge during the regular session. Photo courtesy: Forbes via Wikimedia See more from BenzingaClick here for options trades from BenzingaDeFi Cryptocurrencies Refuse To Take A Backseat Amid GameStop Mania, Hit All-Time HighWhy Scaramucci Sees GameStop Rally As A Positive Backdrop For Bitcoin© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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