NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 10, 2020 to file lead plaintiff applications in a securities class action lawsuit against Forescout Technologies, Inc. (NYSE: FSCT), if they purchased the Company’s shares between February 6, 2020 and May 15, 2020, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Forescout and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit https://www.ksfcounsel.com/cases/nyse-fsct/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 10, 2020.
About the Lawsuit
Forescout and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 18, 2020, the Company disclosed that Advent International Corporation “would not be proceeding to consummate the acquisition of Forescout” per the February 6, 2020 merger agreement, despite the Company’s prior representations regarding the transaction and its positive financial performance.
On this news, the price of Forescout’s shares plummeted 23.5%, wiping out approximately $300 million in market capitalization.
The case is The Arbitrage Fund, et al. v. Forescout Technologies, Inc. et al., 3:20-cv-03819.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.