NEW ORLEANS--(BUSINESS WIRE)--ClaimsFiler, a FREE shareholder information service, reminds investors that they have only until August 10, 2020 to file lead plaintiff applications in a securities class action lawsuit against Forescout Technologies, Inc. (NasdaqGM: FSCT), if they purchased the Company’s securities 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.
Forescout investors should visit us at https://www.claimsfiler.com/cases/nasdaq-fsct-2 or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
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.
ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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