Forescout Technologies, Inc.
The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Forescout Technologies, Inc. (“Forescout” or the “Company”) (NASDAQ: FSCT) securities during the period from February 7, 2019 through October 9, 2019 (the “Class Period”). Investors have until March 2, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company failed to disclose that: Forescout was experiencing significant volatility with respect to large deals and issues related to the timing and execution of deals in the Company’s pipeline, especially in Europe, the Middle East, and Africa (“EMEA”).
On October 10, 2019, Forescout lowered its third quarter 2019 revenue guidance to $90.6 million to $91.6 million, compared to prior revenue guidance of $98.8 million to $101.8 million due in part to “extended approval cycles which pushed several deals out of the third quarter,” which “was most pronounced in EMEA.” On this news, the price of Forescout shares fell $14.63, or 37.3%, to close at $24.57 per share on October 10, 2019.
If you acquired Forescout securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.