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On February 7, 2019, after the market close, Forescout issued a press release for its FY 2018 financial results emphasizing a "record number of new customer additions," "strong international growth," and "large expansion deals." However, on October 10, 2019, Forescout announced disappointing "preliminary" 3Q 2019 financial results, substantially lowering its projected revenue and earnings, pointing to deals that were "no longer expected to close during the fourth quarter, due to customer environmental dynamics, that elongated deal cycles."
Following these disclosures, the price of Forescout shares fell over 37%. To obtain additional information, go to:
https://www.zlk.com/pslra-1/forescout-technologies-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky