BENSALEM, Pa., Sept. 07, 2018 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased LogMeIn, Inc. (“LogMeIn” or the “Company”) (NASDAQ: LOGM ) securities between March 1, 2017, and July 26, 2018, inclusive (the “Class Period”). LogMeIn investors have until October 19, 2018, to file a lead plaintiff motion.
Investors that suffered losses on their LogMeIn investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On July 27, 2018, during a conference call with investors, CEO Bill Wagner detailed “executional missteps” related to the company’s $1.8 billion merger with GoToMeeting. Specifically, Wagner claimed that customers were not renewing their subscriptions to the suite of corporate videoconferencing tools that LogMeIn acquired from Citrix in February 2017. On this news, LogMeIn’s share price fell 25%, or $26.60, to close at $77.85 on July 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LogMeIn’s business practices had negatively impacted renewal rates for certain of its services; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
If you purchased shares of LogMeIn during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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