RM LAW, P.C. announces an investigation on behalf of LogMeIn, Inc. (NASDAQ: LOGM) (“LogMeIn” or the “Company”) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you purchased shares of LogMeIn and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On February 1, 2017, LogMeIn announced the completion of its merger with GetGo, Inc. (“GetGo”), a subsidiary of Citrix Systems, Inc. (“Citrix”) consisting of Citrix’s GoTo service offerings. On July 26, 2018, post-market, LogMeIn held an earnings call to discuss its financial and operating results for the second quarter of 2018. During the earnings call, LogMeIn’s Chief Financial Officer and Chief Executive Officer stated that the Company had implemented strategies that negatively impacted renewal rates for certain of its services, including its GoTo services acquired as a result of the GetGo merger.
On this news, LogMeIn’s stock price fell $26.60 per share, or 25.47%, to close at $77.85 per share on July 27, 2018.