Investor Suit Against IT Biz SolarWinds Dismissed

Law360, New York (May 12, 2011, 2:38 PM EDT) -- A Dallas federal judge on Thursday dismissed a proposed class action filed by a SolarWinds Inc. shareholder claiming company principals promoted rosy financial forecasts despite knowing their information technology government contracts would decline in value.

The dismissal without prejudice, approved by U.S. District Judge Jane J. Boyle, came after the plaintiff decided not to pursue the claims at the court-ordered deadline for an amended complaint.

"We had discussions with plaintiff's counsel and they decided that prudence dictated that they voluntary dismiss the case. There is no...
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