San Diego, CA -- (SBWIRE) -- 03/17/2020 -- An investor, who purchased shares of Tufin Software Technologies Ltd. (NYSE: TUFN), filed a lawsuit over alleged violations of Securities Laws by Tufin Software Technologies Ltd. in connection with the Company's initial public offering.

Investors who purchased shares of Tufin Software Technologies Ltd. (NYSE: TUFN) have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Israel based Tufin Software Technologies Ltd. develops, markets, and sells software-based solutions primarily in the United States, Europe, and Asia. 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%.

The plaintiff alleges on behalf of investors who purchased securities of Tufin Software Technologies Ltd. (NYSE: TUFN) pursuant and/or traceable to the Company's initial public offering conducted on or about April 11, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Offering Documents made false and/or misleading statements and/or failed to disclose that Tufin's customer relationships and growth metrics were overstated, particularly with respect to North America, that Tufin's business was deteriorating, primarily in North America, that as a result, Tufin's representations regarding its sustainable financial prospects were overly optimistic, and that as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.

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

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.