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Lawsuit filed for Investors in shares of Forescout Technologies, Inc. (NASDAQ: FSCT)

01-14-2020 04:08 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Forescout Technologies, Inc. (NASDAQ: FSCT) shares.

A lawsuit was filed on behalf of investors in Forescout Technologies, Inc. (NASDAQ: FSCT) shares.

An investor, who purchased shares of Forescout Technologies, Inc. (NASDAQ: FSCT), filed a lawsuit over alleged Securities Laws violations by Forescout Technologies, Inc..

Investors who purchased shares of Forescout Technologies, Inc. (NASDAQ: FSCT) have certain options and for certain investors are short and strict deadlines running. Deadline: March 2, 2020. NASDAQ: FSCT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 7, 2019, after the market close, Forescout Technologies, Inc announced its Fiscal Year 2018 financial results emphasizing a “record number of new customer additions,” “strong international growth,” and “large expansion deals.”

However, on October 10, 2019, Forescout Technologies, Inc announced its “preliminary” 3Q 2019 financial results, substantially lowering its projected revenue and earnings, pointing to deals that were “no longer expected to close during the fourth quarter, due to customer environmental dynamics, that elongated deal cycles.”

Shares of Forescout Technologies, Inc. (NASDAQ: FSCT) dropped from $39.92 per share on October 4, 2019 to as low as $24.51 per share on October 10, 2019.

The plaintiff claims that between February 7, 2019 and October 9, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Forescout was experiencing significant volatility with respect to large deals and issues related to the timing and execution of deals in the Company’s pipeline, especially in Europe, the Middle East, and Africa, that the foregoing was reasonably likely to have a material negative impact on the Company’s financial results, and that as a result of the foregoing, defendants’ statements about its business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Those who purchased shares of Forescout Technologies, Inc. (NASDAQ: FSCT) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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