Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
Tufin Software Lawsuit Investigation
TUFN stock plummets 24% on reduced revenue guidance
Our firm is investigating possible legal claims on behalf of Tufin Software investors. On January 9th, Tufinstock dropped 24% after the company announced preliminary Q4 revenue and non-GAAP operating loss estimates, which drastically missed its previous guidance. We are investigating whether Tufin and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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TUFN Stock News: Tufin Software Technologies plummets 24%
On January 9th, 2020, Tufin Software stock plummeted 24% after the company announced unaudited revenue and non-GAAP operating loss estimates for the fourth quarter. These estimates came in significantly below the companies previous guidance.
While the company previously estimated total revenue in the range of $34.0 million to $38.0 million, the new revenue estimates were in the range of $29.5 million to $30.1 million. Similarly, previous guidance for non-GAAP operating profit was estimated in the range of $0.0 million to $3.0 million. Now, the company estimates a Non-GAAP operating loss of $1.1 million to $2.6 million.
According to the company’s announcement, the reason for the revenue shortfall is “our inability to close a number of transactions, primarily in North America, that we anticipated would close but did not close by the end of the quarter.”
Tufin shares, which were originally priced at $14 per share in April 2019 at the initial public offering (IPO), dropped to nearly $13 per share on January 9th, significantly harming investors.
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