NEW YORK, Aug. 4, 2020 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Tufin Software Technologies Ltd. («Tufin» or the «Company») (NYSE: TUFN).
On or about April 11, 2019, Tufin conducted its initial public offering (the «IPO»), issuing 7,700,000 shares at $14 per share. Then, on or about December 5, 2019, Tufin conducted a secondary public offering (the «SPO»), issuing 4,279,882 shares at $17 per share. A complaint has been filed against the Company on behalf of investors that purchased Tufin ordinary shares in or traceable to the Company’s April IPO or SPO.
On January 9, 2020, Tufin announced that it expected to report total revenue in the range of $29.5 million to $30.1 million, compared to its previous guidance of total revenue in the range of $34.0 million to $38.0 million. The Company attributed the revenue shortfall to the Company’s «inability to close a number of transactions, primarily in North America, that we anticipated would close but did not close by the end of the quarter.»
Following this news, Tufin’s stock price plummeted 24%, to close at $13.08 on January 9, 2020.
If you are a member of the proposed Class, you may move the court no later than September 18, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox & Kilsheimer LLP
