HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Possible Securities Fraud, Encourages Forescout Technologies (FSCT) Investors with Significant Losses to Contact Firm

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Investigating Possible Securities Fraud, Encourages Forescout Technologies (FSCT) Investors with Significant Losses to Contact Firm

PR Newswire

SAN FRANCISCO, May 22, 2020 /PRNewswire/ -- Hagens Berman urges investors in Forescout Technologies, Inc. (NASDAQ: FSCT) to submit their losses now

Relevant Period: Feb. 6, 2019May 17, 2019
Visit: hbsslaw.com/investor-fraud/FSCT 
Contact An Attorney Now: FSCT@hbsslaw.com 
                                              844-916-0895 

Forescout Technologies, Inc. (FSCT) Investigation:

The investigation focuses on whether Forescout falsely touted the $1.9 billion sale of the Company, while concealing material adverse information about Forescout's financial outlook from its buyer, Advent International.

On Feb. 6, 2020, the Company announced that it had agreed to be purchased by Advent for $1.9 billion, or $33.00 per share, representing a 18% premium over the prior day's closing price.

The deal was subsequently approved by shareholders on Apr. 23, 2020.

But on Apr. 30, 2020, Spruce Point wrote to Advent, urging it to cancel its purchase of Forescout, noting Forescout may not have shared internal financial forecasts, including the Company's first-quarter and full-year fiscal 2020 revenue guidance.

Then, on May 12, 2020, Spruce Point wrote again to Advent providing commentary on Forescout's newly-released Q1 results, which affirmed a pessimistic revenue projection and disclosed a restructuring and credit revolver drawdown event.  Spruce Point concluded that "We remain concerned that Forescout executives may have been aware of the emergence of dramatic, Company-altering headwinds which it never divulged to prospective acquirers, including you."

Finally, on May 18, 2020, Forescout announced that Advent had terminated the acquisition.  This news drove the price of Forescout shares sharply lower that day.

"We're focused on investors' losses and whether Forescout intentionally misled investors about matters concerning the acquisition by Advent," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you purchased shares of Forescout and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Forescout Technologies should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FSCT@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 844-916-0895

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/hagens-berman-national-trial-attorneys-investigating-possible-securities-fraud-encourages-forescout-technologies-fsct-investors-with-significant-losses-to-contact-firm-301064613.html

SOURCE Hagens Berman Sobol Shapiro LLP

Copyright CNW Group 2020

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).