National class action law firm, Glancy Prongay & Murray LLP (GPM) reminds investors of the October 19, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased LogMeIn, Inc. (LogMeIn or the Company) (NASDAQ: LOGM) securities between March 1, 2017, and July 26, 2018, inclusive (the Class Period). LogMeIn investors have until October 19, 2018, to file a lead plaintiff motion..
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On July 27, 2018, during a conference call with investors, CEO Bill Wagner detailed executional missteps related to the company’s $1.8 billion merger with GoToMeeting. Specifically, Wagner claimed that customers were not renewing their subscriptions to the suite of corporate videoconferencing tools that LogMeIn acquired from Citrix in February 2017. On this news, LogMeIns share price fell 25%, or $26.60, to close at $77.85 on July 27, 2018, thereby injuring investors.
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) LogMeIns business practices had negatively impacted renewal rates for certain of its services; and (2) as a result, Defendants public statements were materially false and misleading at all relevant times.
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If you purchased shares LogMeIn during the Class Period you may move the Court no later than October 19, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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