Securities Class Action Filed Against LogMeIn, Inc. (LOGM); Block & Leviton Encourages Investors to Contact The Firm
BOSTON, Sept. 7, 2018 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, announces that a securities fraud class action has been filed against LogMeIn, Inc. ("LogMeIn" or the "Company") (NASDAQ: LOGM) and certain of its officers alleging violations of the federal securities laws. Block & Leviton encourages shareholders to contact the Firm ahead of the October 19, 2018 lead plaintiff deadline.
On July 26, 2018, LogMeIn's CEO, William Wagner, stated that a "combination of imperfect execution and some hangover effects of last year's merger with the GoTo business led to disappointing renewal rates." On this news, LogMeIn stock dropped $26.60 per share or over 25% to close at $77.85 on July 27, 2018.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LogMeIn's business practices had negatively impacted renewal rates for certain of its services; and (2) as a result, defendants' public statements were materially false and misleading at all relevant times.
If you purchased LOGM shares between March 1, 2017 and July 26, 2018 and wish to serve as a lead plaintiff, you must move the Court no later than October 19, 2018. As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. If you wish to become involved in the litigation or have questions about your legal rights, you are encouraged to contact Attorney John DeFelice at (888) 868-2385, by email at [email protected] or by visiting http://shareholder.law/logmein.
Confidentiality to whistleblowers or others with information relevant to this investigation is assured.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
John DeFelice
(617) 398-5600 phone
155 Federal Street, Suite 400
Boston, MA 02110
[email protected]
SOURCE Block & Leviton LLP
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