NEW YORK, October 4, 2019 –Bragar Eagel & Squire is investigating certain officers and directors of LogMeIn, Inc (NASDAQ: LOGM) following a class action complaint that was filed against LogMeIn.
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.
If you are a long-term stockholder of LogMeIn securities have information, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.