The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of LogMeIn, Inc. (NASDAQ: LOGM) who purchased shares between March 1, 2017 and July 26, 2018. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the LOGM lawsuit alleges that (1) LogMeIn’s 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. Following this news, shares of LogMeIn fell $26.60 to close at $77.85 per share on July 27, 2018.
Shareholders have until October 19, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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