An investigation on behalf of investors in LogMeIn, Inc. (NASDAQ: LOGM) shares over potential wrongdoing at LogMeIn, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 05/09/2019 -- An investigation on behalf of current long-term investors in shares of LogMeIn, Inc. (NASDAQ: LOGM) was announced over potential breaches of fiduciary duties by certain officers and directors at LogMeIn, Inc.
Investors who purchased shares of LogMeIn, Inc. (NASDAQ: LOGM) and currently hold any of those 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 concerns whether certain LogMeIn, Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
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.
On Aug 20, 2018, a lawsuit was filed against LogMeIn, Inc. over alleged violations of Federal Securities Laws. The plaintiff claimed that between March 1, 2017 through July 26, 2018, 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
Those who purchased shares of LogMeIn, Inc. (NASDAQ: LOGM), have certain options and should contact the Shareholders Foundation.
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