Investor Alert: Kaplan Fox Announces Investigation Of Tufin Software Technologies Ltd.

NEW YORK, March 6, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Tufin Software Technologies Ltd. ("Tufin" or the "Company") (NYSE: TUFN).  A complaint has been filed against the Company on behalf of investors that purchased Tufin ordinary shares in or traceable to the Company's April 11, 2019 initial public offering ("IPO).

On or about April 11, 2019, Tufin conducted its IPO by selling 7.7 million ordinary shares at $14.00 per share.

On January 9, 2020, Tufin announced its preliminary unaudited revenue and non-GAAP operating loss estimates for the fourth quarter ended December 31, 2019.  Tufin stated that it expected to report total revenue in the range of $29.5 million to $30.1 million, compared to its previous guidance of total revenue in the range of $34.0 million to $38.0 million, and that Tufin 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.  The Company attributed the revenue shortfall to the Company's "inability to close a number of transactions, primarily in North America, that we anticipated would close but did not close by the end of the quarter."

Following this news, Tufin's stock price plummeted $4.14 per share, or approximately 24%, to close at $13.08 on January 9, 2020.

If you are a member of the proposed Class and would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this Notice, your rights, or your interests, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: jcampisi@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700b
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP