SHAREHOLDER ALERT: Kaskela Law LLC Announces Shareholder Class Action Lawsuit Against LogMeIn, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm – LOGM
RADNOR, Pa., Aug. 21, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against LogMeIn, Inc. (NASDAQ: LOGM) (“LogMeIn” or the “Company”) on behalf of purchasers of the Company’s securities between March 1, 2017 and July 26, 2018, inclusive (the “Class Period”).
IMPORTANT DEADLINE: Investors who purchased LogMeIn’s securities during the Class Period may, no later than October 19, 2018, seek to be appointed as a lead plaintiff representative of the investor class. Investors who seek to take a proactive role in the litigation are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740 or firstname.lastname@example.org, or submit their information online at http://kaskelalaw.com/case/logmein/.
The shareholder class action complaint alleges that defendants made materially false and misleading statements during the Class Period and failed to disclose to investors that LogMeIn’s business practices had negatively impacted renewal rates for certain of its services. The complaint further alleges that, as a result of the foregoing, investors purchased LogMeIn’s securities at artificially inflated prices during the Class Period and sustained significant investment losses.
On February 1, 2017, LogMeIn announced that it had completed its merger with the GoTo business of Citrix Systems, Inc.
On July 26, 2018, LogMeIn announced quarterly financial and operational results for the second quarter of fiscal 2018 and lowered certain financial guidance for fiscal 2018. During a subsequent conference call, management disclosed that LogMeIn’s performance during the quarter failed to meet expectations in part due to the “combination of imperfect execution and some hangover effects of last year’s merger with the GoTo business led to disappointing renewal rates.” Following this disclosure, shares of the Company’s stock declined $26.60 per share, or over 25% in value, to close on July 27, 2018 at $77.85.
Investors who purchased LogMeIn’s securities during the Class Period and suffered an investment loss are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740 or email@example.com to discuss their legal rights and options. Investors may also submit their information at http://kaskelalaw.com/case/logmein/.
About Kaskela Law LLC: Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.