RYE BROOK, NY / ACCESSWIRE / January 8, 2020 / Klafter Olsen & Lesser LLP, which has extensive experience in securities class action, group, and individual litigation, announces that a securities class action has been filed against ForeScout Technologies, Inc. ("ForeScout") (FSCT) concerning misrepresentations made to investors during the period February 7, 2019 through and including October 9, 2019 (the "Class Period").
In May 2019 ForeScout raised its FY19 revenue guidance and assured analysts that "there's still plenty of pipeline to deliver upon the guidance [ForeScout has] given you for the full year." On October 10, 2019, ForeScout shocked investors when it issued a press release announcing preliminary third-quarter financial results significantly below prior guidance. ForeScout lowered estimated quarterly revenue from a market consensus of $100.5 million to approximately $91M, purportedly due to increased volatility and extended approval cycles affecting the timing and execution of deals in the company pipeline. The news caused the stock price to fall over 37% in trading on October 10, 2019, from $39.20 per share to $24.75 per share.
If you purchased ForeScout securities during the Class Period and suffered significant losses, you may qualify to be a lead plaintiff. Contact Klafter Olsen & Lesser LLP for more information about the case and being appointed as a lead plaintiff.
Whistleblowers: Individuals with non-public information regarding ForeScout should consider assisting in the investigation or take advantage of the SEC Whistleblower program. Whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. Whistleblowers can remain anonymous but to be eligible for an award you must have an attorney represent you. For more information, call Kurt Olsen at (202) 261-3553 or email firstname.lastname@example.org.
Klafter Olsen & Lesser LLP has offices in New York and Washington D.C. The founding partners have over fifty years combined experience representing plaintiffs in individual and class action litigation and have a track record of recovering significant percentages of investor losses.
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SOURCE: Klafter Olsen & Lesser LLP
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