Citrix Systems, Inc. (CTXS) Investor Notice: Lawsuit for Investors who received LogMeIn, Inc. (LOGM) shares in connection with acquisition of Citrix Systems' subsidiary, GetGo. Inc announced by Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / August 13, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who received shares of LogMeIn, Inc. (NASDAQ:LOGM) in connection with the acquisition of Citrix Systems’ subsidiary, GetGo, Inc.
Investors, who received securities of LogMeIn, Inc. (NASDAQ:LOGM) as a result of LogMeIn's January 31, 2017 acquisition of and merger with Citrix Systems, Inc's subsidiary, GetGo, Inc, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 1, 2017, LogMeIn announced the completion of its merger with GetGo, Inc. ("GetGo"), a subsidiary of Citrix Systems, Inc. ("Citrix") consisting of Citrix's GoTo service offerings.
Then on July 26, 2018, post-market, LogMeIn held an earnings call to discuss its financial and operating results for the second quarter of 2018. During the earnings call, LogMeIn's Chief Financial Officer and Chief Executive Officer stated that the Company had implemented strategies that negatively impacted renewal rates for certain of its services, including its GoTo services acquired as a result of the GetGo merger.
The plaintiff alleges that the Registration Statement that was issued in connection with LogMeIn's January 31, 2017 acquisition of and merger with Citrix Systems, Inc's subsidiary, GetGo, Inc was false and/or misleading and/or failed to disclose that after the acquisition of GetGo, defendants had no intention of offering Citrix’s GoToMeeting subscribers an optional, voluntary transition to LogMeIn’s prepaid annual model, that instead, defendants were planning to implement a strategy of aggressive mandatory conversion, which would force GoToMeeting customers into signing annual contracts on short notice at higher prices with stricter terms, that the undisclosed plan to implement aggressive practices posed severe and obvious risks of increased customer friction and chum in the immediate term, that the plan also increased the likelihood that customers would cancel their subscriptions once their annual contracts expired, and that as a result, defendants’ statements in the Registration Statement regarding LogMeIn’s business, operations, and prospects, were materially false and misleading.
Those who received securities of LogMeIn, Inc. (NASDAQ:LOGM) as a result of LogMeIn's January 31, 2017 acquisition of and merger with Citrix Systems, Inc's subsidiary, GetGo, Inc, have certain options and should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation, Inc.
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