RADNOR, Pa.--(BUSINESS WIRE)--Kaskela Law LLC is investigating LogMeIn, Inc. (NASDAQ: LOGM) (“LogMeIn” or the “Company”) on behalf of the Company's shareholders. The investigation seeks to determine whether LogMeIn and certain of its officers and/or directors have violated the federal securities laws by issuing misleading statements to investors, and whether LogMeIn investors have been harmed as a result.
LogMeIn investors are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740 to discuss this investigation and their legal rights and options. Investors may also contact the firm online and submit their information at http://kaskelalaw.com/case/logmein/.
On February 1, 2017, LogMeIn announced it completed its merger with the GoTo business of Citrix Systems, Inc.
On July 26, 2018, LogMeIn announced quarterly financial and operational results for the second quarter of fiscal 2018, and lowered certain financial guidance for fiscal 2018. During a subsequent conference call, the Company’s management disclosed that LogMeIn’s performance during the quarter did not meet expectations in part due to the “combination of imperfect execution and some hangover effects of last year’s merger with the GoTo business led to disappointing renewal rates.”
Following this disclosure, shares of the Company’s stock declined $26.60 per share, or over 25% in value, to close on July 27, 2018 at $77.85.
LogMeIn investors are encouraged to contact Kaskela Law LLC and/or submit their information at http://kaskelalaw.com/case/logmein/. Kaskela Law LLC exclusively represents investors in state and federal courts throughout the country. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.