WELLINGTON, Fla., June 13, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO” or the “Firm”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON) advises investors that a Securities Class Action lawsuit has been filed against Forescout Technologies, Inc. (NasdaqGS: FSCT), and encourages shareholders with losses exceeding $100,000 to contact the Firm to discuss the case and their options as class members. The deadline to petition the court to act as a lead plaintiff is August 10, 2020.
The case, The Arbitrage Fund, et al. v. Forescout Technologies, Inc., et al., Case No.: 3:20-cv-03819, was filed in the U.S. District Court for the Northern District of California on behalf of shareholders who purchased the Company’s common stock between February 6, 2020 and May 15, 2020, inclusive (the “Class Period”). The lawsuit alleges that Forescout and certain of its executives failed to disclose material information during the Class Period relating to its planned merger, violating federal securities laws.
On May 18, 2020, Forescout announced that it had received notice from its acquisition partner, Advent International Corporation, that Advent “would not be proceeding to consummate the acquisition of Forescout” pursuant to the parties’ merger agreement. As a result of the disclosure, Forescout’s stock price plummeted, wiping out approximately $300 million in market capitalization. The lawsuit alleges that Forescout failed to disclose during the Class Period, among other things, that the Company was not meeting its obligations under the merger agreement and that there was a material risk that the merger would not close.
If you purchased shares of Forescout during the Class Period and would like to discuss the case and your options as a class member and potential lead plaintiff, you may, without obligation or cost, contact Anthony Barbuto, at (888) 715-2520, or via email at anthony@barjolaw.com, or Neil Rothstein via email at neil@barjolaw.com. The Firm believes strongly that the choice of a qualified lead plaintiff can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
http://www.barjolaw.com