Tufin Software Trims Some Claims in Investor Suit Over Offering

Tufin Software Technologies Ltd. investors failed to sufficiently allege some company statements on its initial public offering were false, but won permission to move forward with other allegations, a federal judge in New York said.

Investors say the network security company misled them about customer relationships and growth metrics ahead of the 2019 IPO. Their challenges to Tufin’s sales cycle statements may go ahead, but they fell short of alleging statements related to worker training, hiring, retention, and sales forecasting accuracy ran afoul of securities laws, the U.S. District Court for the Southern District of New York said.

The ...