Tufin Software Technologies Ltd
Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tufin Software Technologies Ltd., (“Tufin” or the “Company”) (NYSE: TUFN) from allegations that Tufin might have issued misleading information to the investing public.
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New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tufin Software Technologies Ltd., (“Tufin” or the “Company”) (NYSE: TUFN) from allegations that Tufin might have issued misleading information to the investing public.
On or about April 11, 2019, Tufin completed its initial public offering (“IPO”), and sold 7.7 million shares of common stock priced at $14.00 per share and raised approximately $107.8 million.
On January 9, 2020, Tufin announced its preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019. In that announcement, Tufin stated that it expected to report total revenue in the range of $29.5 million to $30.1 million, compared to its previous guidance of total revenue in the range of $34.0 million to $38.0 million, and that Tufin now anticipates non-GAAP operating loss in the range of $1.1 million to $2.6 million, compared to the Company’s previous guidance of non-GAAP operating profit in the range of $0.0 million to $3.0 million.
On this news, Tufin’s stock price plummeted $4.14 per share, or approximately 24%, to close at $13.08 on January 9, 2020.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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