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Dyer & Berens LLP Files Class Action on Behalf of SolarWinds, Inc. Investors; Announces Important Shareholder Deadline -- SWI

DENVER, Oct. 19, 2010 (GLOBE NEWSWIRE) -- Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Northern District of Texas on behalf of purchasers of the common stock of SolarWinds, Inc. ("SolarWinds" or the "Company") (NYSE:SWI) between February 8, 2010 and July 21, 2010, inclusive (the "Class Period"), seeking to pursue remedies under the federal Securities Exchange Act of 1934.
/ Source: GlobeNewswire

DENVER, Oct. 19, 2010 (GLOBE NEWSWIRE) -- Dyer & Berens LLP ( www.DyerBerens.com ) today announced that it has filed a class action lawsuit in the United States District Court for the Northern District of Texas on behalf of purchasers of the common stock of SolarWinds, Inc. ("SolarWinds" or the "Company") (NYSE:SWI) between February 8, 2010 and July 21, 2010, inclusive (the "Class Period"), seeking to pursue remedies under the federal Securities Exchange Act of 1934.

If you wish to serve as a lead plaintiff, you must move the court no later than December 14, 2010. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302, (303) 861-1764, or via email at jeff@dyerberens.com.  Any member of the putative class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's operations and its business and financial results. According to the complaint, defendants misled investors by misrepresenting and failing to disclose material problems with SolarWinds' license revenues and sales to the U.S. federal government, as well as material problems within the Company's sales management team that prevented SolarWinds from accurately predicting the Company's ability to make and maintain sales.

On July 21, 2010, the Company cut its recently reaffirmed revenue guidance.  Describing why the Company was abruptly cutting its financial forecasts, defendants revealed there had been a 44% decline in U.S. federal government sales that was caused by the inability of the Company's US federal sales management team to predict and positively influence the pace of sales. In response, SolarWinds' common stock price plummeted 23% or $3.81 per share to close at $12.71 on July 22, 2010.

Plaintiff seeks to recover damages on behalf of SolarWinds investors. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.

CONTACT: Dyer & Berens LLP Jeffrey A. Berens (888) 300-3362 (303) 861-1764 jeff@dyerberens.com 303 East 17th Avenue, Suite 300 Denver, CO 80203