NEW YORK, March 6, 2020 / PRNewswire / – Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors in Tufin Software Technologies Ltd. (“Tufin” or the “Company”) (NYSE: TUFN). A lawsuit has been filed against the Company on behalf of investors who purchased Tufin common shares in or traceable to the Company April 11, 2019 IPO.
On or about April 11, 2019, Tufin went public with 7.7 million common shares $ 14.00 per share.
Sure January 9, 2020, Tufin announced preliminary estimates for fourth quarter ended unaudited revenue and non-GAAP operating losses the 31st of December, 2019. Tufin said it plans to report total revenue in the range of $ 29.5 million at $ 30.1 million, compared to its previous forecast of total revenue in $ 34.0 million at $ 38.0 million, and that Tufin now anticipates a non-GAAP operating loss from $ 1.1 million at $ 2.6 million, compared to the company’s previous projections for non-GAAP operating income $ 0.0 million at $ 3.0 million. The company attributed the shortfall to its “inability to complete a number of transactions, primarily North America, which we expected to close, but not at the end of the quarter. “
After the news, Tufin’s share price dropped $ 4.14 per share, or around 24%, to close at $ 13.08 sure January 9, 2020.
If you are a member of the proposed class and wish to discuss the complaint or our investigation, please contact us by email [email protected] or by calling 800-290-1952.
This press release may be considered to be lawyer advertising in certain jurisdictions under 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 the pursuit of investor class actions. For more information on Kaplan Fox & Kilsheimer LLP, you can visit our website at www.kaplanfox.com. If you have any questions about this notice, your rights or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 rue Sansome, office 400
San Francisco, California 94104
(415) 772-4700b
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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