The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tufin Software Technologies Ltd. (NYSE: TUFN) who purchased stocks pursuant and/or traceable to documents issued in connection with the Company’s April 2019 initial public offering and/or its December 2019 secondary public offering. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Tufin lawsuit alleges that (i) Tufin’s customer relationships and growth metrics were overstated, particularly with respect to North America; (ii) Tufin’s business was deteriorating, primarily in North America; (iii) as a result, Tufin’s representations regarding its sustainable financial prospects were overly optimistic; and (iv) as a result, the documents issued in connection with the Company’s initial public offering were materially false and/or misleading and failed to state information required to be stated therein.
Shareholders have until September 21, 2020 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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