An investigation on behalf of current long term investors in LogMeIn, Inc. (NASDAQ: LOGM) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/15/2018 -- An investigation was announced for investors in shares of LogMeIn, Inc. (NASDAQ: LOGM) concerning potential breaches of fiduciary duties by certain directors and officers of LogMeIn, Inc..
Investors who are current long term investors in LogMeIn, Inc. (NASDAQ: LOGM) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ: LOGM stocks follows a lawsuit filed recently against LogMeIn, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: LOGM stocks, concerns whether certain LogMeIn, Inc. directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that LogMeIn's business practices had negatively impacted renewal rates for certain of its services, and that as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages
Boston, MA based LogMeIn, Inc. provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. LogMeIn, Inc. reported that its annual Total Revenue rose from $336.06 million in 2016 to $989.78 million in 2017 and that its Net Income increased from $2.63 million in 2016 to $99.52 million.
Shares of LogMeIn, Inc. (NASDAQ: LOGM) grew from $35.00 per share in early 2016 to as high as $129.00 per share in March 2018.
On July 27, 2018, during a conference call with investors, CEO Bill Wagner detailed "executional missteps" related to the company's $1.8 billion merger with GoToMeeting.
Specifically, Wagner claimed that customers were not renewing their subscriptions to the suite of corporate videoconferencing tools that LogMeIn acquired from Citrix in February 2017.
Shares of LogMeIn, Inc. (NASDAQ: LOGM) declined on July 27, 2018 to as low as $77.05 per share.
Those who purchased shares of LogMeIn, Inc. (NASDAQ: LOGM) have certain options and should contact the Shareholders Foundation.
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About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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