SAN FRANCISCO, July 27, 2018 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP alerts investors in LogMeIn, Inc. (NASDAQ: LOGM) to the firm's investigation into possible disclosure violations. If you purchased or otherwise acquired LogMeIn securities between February 1, 2017 and July 26, 2018and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
On February 1, 2017, LogMeIn announced it completed its merger with Citrix Systems, Inc.'s GoTo business.
On July 27, 2018, LogMeIn announced lowered revenue expectations for 2018. During the July 26, 2018 earnings conference call with analysts and investors, the Company's management explained LogMeIn's performance in the quarter did not meet expectations in part because "our combination of imperfect execution and some hangover effects of last year's merger with the GoTo business led to disappointing renewal rates."
This news drove the price of LogMeIn shares down as much as $25.85, or almost 25%, during intraday trading on July 27, 2018.
"We're focused on investors' losses and management's historical statements about the GoTo integration," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding LogMeIn 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 [email protected].
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