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NEW YORK, Aug. 20, 2019 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of LogMeIn, Inc. (NASDAQ: LOGM) pursuant or traceable to the S-4 registration statement and prospectus ("Registration Statement") issued in connection with LogMeIn's January 31, 2017 acquisition of and merger with Citrix Systems, Inc. (“Citrix”)'s subsidiary, GetGo, Inc. ("GetGo"). The lawsuit seeks to recover damages for LogMeIn investors under the federal securities laws.
To join the LogMeIn class action, go to http://www.rosenlegal.com/cases-register-1648.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
According to the lawsuit, the Registration Statement was false and/or misleading and/or failed to disclose that: (1) after the acquisition of GetGo, defendants had no intention of offering Citrix’s GoToMeeting subscribers an optional, voluntary transition to LogMeIn’s prepaid annual model; (2) instead, defendants were planning to implement a strategy of aggressive mandatory conversion, which would force GoToMeeting customers into signing annual contracts on short notice at higher prices with stricter terms; (3) the undisclosed plan to implement aggressive practices posed severe and obvious risks of increased customer friction and chum in the immediate term; (4) the plan also increased the likelihood that customers would cancel their subscriptions once their annual contracts expired; and (5) as a result, defendants’ statements in the Registration Statement regarding LogMeIn’s business, operations, and prospects, were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1648.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827