SAN FRANCISCO, Oct. 10, 2019 /PRNewswire/ — Hagens Berman notifies Forescout Technologies, Inc. (NASDAQ: FSCT) investors of the firm’s investigation of possible violations of federal securities laws. The firm urges FSCT investors who have suffered significant losses to submit a loss form now to learn if they qualify to recover their investment losses.
Forescout Technologies, Inc. (FSCT) Investigation:
The investigation centers on whether Forescout misled investors about its sales pipeline.
Over the past several quarters, Forescout has touted its “solid” results that purportedly demonstrated “the pervasive need for device visibility and control.”
But on October 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.
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 Techologies 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 510-725-3000 or email FSCT@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP