NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Tufin Software Technologies Ltd. (NYSE: TUFN) resulting from allegations that Tufin may have issued materially misleading business information to the investing public.
On January 9, 2020, Tufin announced its preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019. Tufin announced that it expects to report total revenue in the range of $29.5 million to $30.1 million, compared to its previous guidance of total revenue in the range of $34.0 million to $38.0 million, and that Tufin now anticipates 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 $0.0 million to $3.0 million.
On this news, Tufin's stock price fell $4.14 per share, or over 24%, to close at $13.08 on January 9, 2020.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Tufin investors. If you purchased shares of Tufin please visit the firm’s website at http://www.rosenlegal.com/cases-register-1801.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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