SAN DIEGO & RAMAT-GAN, Israel--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating whether certain officers and directors of Tufin Software Technologies Ltd. (NYSE: TUFN) violated federal securities law. Tufin develops, markets, and sells software-based solutions primarily in the United States, Europe, and Asia.
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Tufin Software Technologies Ltd. (TUFN) Slashes its Revenue Guidance
On January 9, 2020, Tufin revealed in its preliminary fourth quarter and fiscal year 2019 results that the Company was slashing its total revenue guidance from a range of $34 million to $38 million to a range of $29.5 million to $30.1 million. Additionally, the Company disclosed in its report that it now expected a non-GAAP operating loss in the range of $1.1 million to $2.6 million, compared to the Company's previous guidance of non-GAAP operating profit in the range of $0 million to $3 million. Tufin's CEO stated "the primary reason for [Tufin's] revenue shortfall was [its] inability to close a number of transactions… that [the Company] anticipated would close." On this news, Tufin's stock price fell $4.14, or 24%, to close at $13.08.
Tufin Software Technologies Ltd. (TUFN) Shareholders Have Legal Options
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