LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of LogMeIn, Inc., (“LogMeIn” or the “Company”) (NASDAQ: LOGM) concerning whether the board breached its fiduciary duties to shareholders.
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On July 27, 2018, during a conference call with investors, CEO Bill Wagner detailed “executional missteps” related to the company’s $1.8 billion merger with GoToMeeting. Specifically, Wagner claimed that customers were not renewing their subscriptions to the suite of corporate videoconferencing tools that LogMeIn acquired from Citrix in February 2017.
On this news, LogMeIn’s share price fell 25%, or $26.60, to close at $77.85 on July 27, 2018, thereby injuring investors.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the above alleged misconduct.
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If you bought LogMeIn shares before July 26, 2018, held them through July 26, 2018, and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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