LOS ANGELES, July 21, 2020 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Tufin Software Technologies Ltd. (“Tufin” or the “Company”) (NYSE:TUFN), investors that acquired shares pursuant to Tufin’s April 2019 initial public offering (“IPO”) and Tufin’s December 2019 secondary public offering (“SPO”).
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
On April 11, 2019, Tufin filed a prospectus for the company’s initial public offering (“IPO”), and touted to investors the strong growth in its customer base and overall revenues, specifically increases in its North American market.
The complaint alleges that Defendants violated provisions of the Securities Act by issuing false and misleading registration statements and prospectuses in connection with both its IPO and its SPO. Specifically, the complaint states that Defendants misled investors with respect to the Company’s North American business, customer relationships and growth metrics, and the fact that Tufin’s business was deteriorating, and, as a result, Tufin’s representations regarding its sustainable financial prospects were overly optimistic-all of which was known to, and concealed by, Defendants at the time of the IPO and SPO.
