SAN FRANCISCO, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Hagens Berman urges investors in Forescout Technologies, Inc. (NASDAQ: FSCT) to submit their losses now to learn if they qualify to recover their investment losses. A class action complaint against the Company and its senior executives has been filed.
| Class Period: Feb. 7, 2019 – Oct. 9, 2019 | |
| Lead Plaintiff Deadline: Mar. 2, 2020 | |
| Sign Up: www.hbsslaw.com/investor-fraud/FSCT | |
| Contact An Attorney Now: | FSCT@hbsslaw.com |
| 844-916-0895 | |
Forescout Technologies, Inc. (FSCT) Securities Class Action:
The Complaint alleges that throughout the Class Period, Defendants misrepresented and concealed 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 (“EMEA”).
The market began to learn the truth on Oct. 10, 2019, when Forescout announced disappointing Q3 2019 financial results and slashed revenue guidance. In explaining the poor performance and outlook, Defendants cited “extended approval cycles which pushed several deals out of the third quarter,” which “was most pronounced in EMEA.” On this news, Forescout's stock price fell $14.63 per share, or 37.32%, wiping out nearly $700 million in market capitalization.
“We’re focused on investors’ losses and whether the Company presented a false portrayal of their EMEA pipeline,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Forescout and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Forescout Technologies should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FSCT@hbsslaw.com.
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Contact:
Reed Kathrein, 844-916-0895