SAN DIEGO, Sept. 17, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP reminds investors that a class action lawsuit has been filed against Forescout Technologies, Inc. (NASDAQ: FSCT) ("Forescout" or the Company") on behalf of all purchasers of common stock during the period between February 7, 2019 and May 15, 2020, inclusive (the "Class Period").
If you wish to serve as a lead plaintiff, you must move the Court no later than September 28, 2020. If you want to discuss this action or have any questions concerning this notice, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If you email, please include your phone number.
The complaint alleges that during the Class Period, defendants throughout the Class Period made false and misleading statements and failed to disclose: (1) dramatic cuts to the number of employees began in early 2019 throughout the Company, particularly within the sales department; (2) a significant number of sales employees left the Company due to declining sales throughout 2019; (3) the productivity of the Company's sales representatives seriously declined throughout 2019; (4) the Company misrepresented their pipeline of deals, and their expected closing date, to buttress their stock prices; and (5) despite announcing a definitive deal to be acquired by Advent International, following disclosure of the Company's poor financial state, the deal fell through. When the true details entered the market, the lawsuit claims that investors suffered damages. The plaintiff seeks to recover damages on behalf of all purchasers of Forescout common stock during the Class Period.
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