Tufin Software (TUFN) $2M Shareholder Settlement

S.D. New York

Court

1:20-cv-05646-GHW

Case number

04/11/2019

Class period Start

07/21/2020

Class period End

11/03/2023

Claim deadline

Tufin Software $TUFN settles investor claims for $2 million! 

Allegations were made about mischaracterizing business prospects before the $108M IPO in 2019.

The Complaint alleged that the Company and its Accountables violated provisions of the Securities Act by issuing false and misleading registration statements and prospectuses in connection with both its IPO and its SPO. 

Specifically, the Complaint alleges that the Company and its Accountables misled investors with respect to the Company’s North American business, customer relationships, and growth metrics, and the fact that Tufin’s business was deteriorating, and, as a result, Tufin’s representations regarding its sustainable financial prospects were overly optimistic—all of which was known to, and concealed by, Company and its Accountables at the time of the IPO and SPO.

Case Status

Disbursed

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management,

Shareholder,

Investment Bank,

Service Provider

Security Type

Stocks

Trade Direction

Long

Payout per Share

0.14

Filing date

07/21/2020

Plaintiffs

Mark Henry, Matt Primozich, William J. Allen

Attorneys

Levi & Korsinsky, LLP (New York, NY), Pomerantz LLP (Chicago, IL), The Rosen Law Firm, P.A. (New York, NY)

Defendants

Reuven Kitov, Jack Wakileh, Reuven Harrison, Ohad Finkelstein, Edouard Cukierman, Yair Shamir, Ronni Zehavi, Yuval Shachar

Judge

Hon. Gregory H. Woods

Administrator

Strategic Claims Services

Court hearing date

12/01/2023

Exclusion deadline

11/10/2023

Objection deadline

11/10/2023

Hearing deadline

11/10/2023

Trades matching type

FIFO

+$2,000,000

Cash Settlement Amount