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TUFN.US
id: 780

Tufin Software (TUFN) $2M Shareholder Settlement

S.D. New York
Court
1:20-cv-05646-GHW
Case number
11 Apr 2019
Class period Start
21 Jul 2020
Class period End
03 Nov 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
Accepting Late Claims
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
21 July 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
01 December 2023
Exclusion deadline
10 November 2023
Objection deadline
10 November 2023
Hearing deadline
10 November 2023
Trades matching type
FIFO
+$2,000,000
Cash Settlement Amount

Tufin Software Technologies Ltd

Tufin Software Technologies Ltd., together with its subsidiaries, develops, markets, and sells software-based solutions primarily in the United States, Israel, Europe, the Middle East, and Africa, ...

    Ticker
    TUFN.US
    ISIN
    IL0011571556
    Sector
    Technology
    Industry
    Software
    Country
    USA
    Address
    ToHa Tower, Tel Aviv, Israel, 6789205