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Tufin Software Technologies Ltd. (NYSE: TUFN) Investor Investigation Over Possible Violations Of Securities Laws Announced

  • Investors who purchased shares of Tufin Software Technologies Ltd. (NYSE: TUFN), have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Tufin Software Technologies Ltd.
Security
NYSE: TUFN

Summary

An investigation on behalf of investors of Tufin Software Technologies Ltd. (NYSE: TUFN) shares over potential securities laws violations by Tufin Software Technologies Ltd. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tufin Software Technologies Ltd. (NYSE: TUFN) concerning whether a series of statements by Tufin Software Technologies Ltd. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Israel based Tufin Software Technologies Ltd. develops, markets, and sells software-based solutions primarily in the United States, Europe, and Asia. Tufin Software Technologies Ltd. Reported that its annual Total Revenue rose from $64.54 million in 2017 to $84.98 million in 2018, and that its Net Loss increased from $2.79 million in 2017 to $4.426 million in 2018.

On or about April 11, 2019, Tufin Software Technologies Ltd sold 7.7 million shares of stock in its initial public stock offering (the 'IPO'), at $14.00 a share raising $107,800,000 in new capital.
On January 9, 2020, Tufin Software Technologies Ltd announced preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019. Tufin Software Technologies Ltd expects to report total revenue in the range of $29.5 million to $30.1 million, compared to the company's previous guidance of total revenue in the range of $34.0 million to $38.0 million. The Company now anticipates non-GAAP operating loss in the range of $1.1 million to $2.6 million, compared to the Company's previous guidance of non-GAAP operating profit in the range of $0.0 million to $3.0 million. Following this news, on January 9, 2020, in pre-market trading, the stock was trading down over 25%.

Shares of Tufin Software Technologies Ltd. (NYSE: TUFN) declined from $30.57 per share in July 2019 to a slow as $11.69 per share on January 9, 2020.

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