NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against LogMeIn, Inc. (“LogMeIn” or the “Company”) (NASDAQ: LOGM). The investigation concerns whether LogMeIn has violated the federal securities laws and/or engaged in other unlawful business practices.
On February 1, 2017, LogMeIn announced it completed its merger with the GoTo business of Citrix Systems, Inc.
On July 27, 2018, LogMeIn announced lowered revenue expectations for 2018. During the July 26, 2018 earnings conference call with analysts and investors, the Company’s management explained LogMeIn’s performance in the quarter did not meet expectations in part because “our combination of imperfect execution and some hangover effects of last year’s merger with the GoTo business led to disappointing renewal rates.” Following disclosure of this news, the price of LogMeIn shares on July 27, 2018 fell by $26.60, or approximately 25.5%, compared to the prior day’s closing price.
If you purchased or otherwise acquired LogMeIn 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.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
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