NEW YORK, Sept. 4, 2018 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of LogMeIn, Inc. ("LogMeIn" or the "Company") (NASDAQ: LOGM). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether LogMeIn and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 1, 2017, LogMeIn announced the completion of its merger with GetGo, Inc. ("GetGo"), a subsidiary of Citrix Systems, Inc. ("Citrix") consisting of Citrix's GoTo service offerings. On July 26, 2018, post-market, LogMeIn held an earnings call to discuss its financial and operating results for the second quarter of 2018. During the earnings call, LogMeIn's Chief Financial Officer and Chief Executive Officer stated that the Company had implemented strategies that negatively impacted renewal rates for certain of its services, including its GoTo services acquired as a result of the GetGo merger.
On this news, LogMeIn's stock price fell $26.60 per share, or 25.47%, to close at $77.85 per share on July 27, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980
SOURCE Pomerantz LLP