SAN FRANCISCO, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Hagens Berman urges Forescout Technologies, Inc. (FSCT) investors who have suffered losses in excess of $100,000 to submit their losses now to learn if they qualify to recover their investment losses. The firm is actively investigating whether the company and senior executives violated federal securities laws, and certain investors may have valuable claims.
Forescout Technologies, Inc. (FSCT) Investigation:
The investigation centers on whether Forescout misled investors about its sales pipeline.
Over the past year, Forescout has repeatedly touted its growth prospects, emphasizing its “record number of new customer additions,” “strong international growth,” and “large expansion deals.”
But on Oct. 10, 2019, the Company announced disappointing “preliminary” 3Q 2019 financial results, substantially lowering its projected revenue and earnings, citing several deals that were purportedly pushed out of the third quarter due to customer environmental dynamics that elongated deal cycles.
Analysts and investors, however, were skeptical of the Company’s explanation. Motley Fool reported “[t]he market isn’t buying that these delayed deals are a one-off issue.” In response, the price of Forescout shares crashed $14.63, down over 37%, on October 10, 2019.
“We’re focused on investors’ losses and whether the Company provided false financial guidance to investors,” 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.
About Hagens Berman
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Reed Kathrein, 844-916-0895