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LOS ANGELES, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against LogMeIn, Inc. (“LogMeIn” or “the Company”) (NASDAQ: LOGM) for violations of the federal securities laws.
Investors who purchased the Company’s shares pursuant to and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with LogMeIn’s January 31, 2017, acquisition of and merger with GetGo are encouraged to contact the firm before October 7, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. LogMeIn had no intention of offering an optional transition to the Company’s prepaid annual model for subscribers of Citrix’s GoToMeeting acquired with GetGo. The Company planned to force these customers into converting to annual contracts at higher prices and with more restrictions. This aggressive plan created significant risk of increasing customer friction and churn following the acquisition, while also making customers likely to cancel their subscriptions at the end of their contracts. Based on these facts, the Company’s Registration Statement was false and materially misleading. When the market learned the truth about LogMeIn, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
The Schall Law Firm