Tufin Software Technologies Ltd. (TUFN)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Tufin Software Technologies Ltd. (TUFN)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers Tufin Software Technologies Ltd. (“Tufin” or the Company”) (NYSE: TUFN). The investigation concerns whether Tufin and certain of its officers and/or directors have violated federal securities laws.
In April 2019, Tufin completed its initial public offering (“IPO”), selling 7.7 million shares of common stock priced at $14.00 per share and raising approximately $107.8 million in capital. Then, on January 9, 2020, Tufin announced preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019. Tufin announced that it expects 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. Following this news, Tufin’s stock price has fallen sharply during intraday trading on January 9, 2020.
If you are aware of any facts relating to this investigation, or purchased Tufin shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.