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TUFIN SOFTWARE TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. is Investigating Tufin Software Technologies, Inc. on Behalf of Stockholders and Encourages Investors to Contact the Firm

January 13, 2020 GMT

NEW YORK--(BUSINESS WIRE)--Jan 13, 2020--

Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Tufin Software Technologies, Inc. (NYSE: TUFN) on behalf of Tufin stockholders. Our investigation concerns whether Tufin Software has violated the federal securities laws and/or engaged in other unlawful business practices.

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On or about April 11, 2019, Tufin sold 7.7 million shares of stock in its initial public stock offering (the “IPO”) at $14.00 per share, raising $107,800,000 in new capital.

On January 9, 2020, the Company announced preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019. Tufin 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.

On this news, the price of Tufin stock decreased $4.14 per share, to close at $13.09 per share on January 9, 2020.

If you purchased or otherwise acquired Tufin shares and suffered a loss, 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 investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200113005960/en/

CONTACT: Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

(212) 355-4648

investigations@bespc.com

www.bespc.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Bragar Eagel & Squire, P.C.

Copyright Business Wire 2020.

PUB: 01/13/2020 06:50 PM/DISC: 01/13/2020 06:50 PM

http://www.businesswire.com/news/home/20200113005960/en