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Hagens Berman Alerts Investors of June 10, 2014 Lead Plaintiff Deadline in Imperva, Inc. Securities Fraud Class Action and Investigation
[April 16, 2014]

Hagens Berman Alerts Investors of June 10, 2014 Lead Plaintiff Deadline in Imperva, Inc. Securities Fraud Class Action and Investigation


SAN FRANCISCO --(Business Wire)--

Hagens Berman Sobol Shapiro LLP an investor-rights law firm has opened a securities investigation against Imperva, Inc. (NASDAQ: IMPV) ("Imperva" or "the Company") following allegations that the company artificially inflated its stock prices, and alerts investors of the June 10, 2014 deadline to file for lead plaintiff in a securities fraud case against the company. Investors who purchased Imperva stock between May 2, 2013 and April 9, 2014 (the "Class Period") may contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000, emailing [email protected] or visiting http://hb-securities.com/investigations/Imperva.

The complaint filed in the U.S. District Court for the Northern District of California alleges that the data security solutions company violated federal securities laws by issuing misleading and false information to investors about its business and financial results, causing the company's stock price to climb to artificially high levels during the Class Period. During this period of time, the complaint states that Imperva stock reached a high of $65.53 per share on March 6, 2014.

According to the complaint, Imperva's top officers and directors sold $25.9 million worth of their Imperva stock at these inflated prices, selling a large portion days before the compay released its preliminary first quarter 2014 financial results. This amount included $11.8 million from the company's CEO and CFO.



Imperva issued a press release on April 9, 2014 announcing its preliminary first quarter 2014 financial results, in which the company reported preliminary total revenue in the range of $31.0 to $31.5 million - below Imperva's prior guidance of $36 to $37 million for the first quarter of 2014. Additionally the Company reported an expected net loss per share in the range of $0.40 to $0.44, below its prior guidance. In the same press release, Imperva's CEO Shlomo Kramer cited, "extended sales cycles on deals over $100,000, which led to delays in receiving anticipated orders from customers, particularly in the U.S."

As a result of this news, Imperva's stock plummeted $21.73 per share to close at $28 per share on April 10, 2014, a one-day decline of nearly 44 percent.


"Actions like this enormous dump of company stock by some of the company's highest directors and officers so close to a wave of bad news serve as a red flag that something isn't right," said Mr. Kathrein. "Hagens Berman intends to intensely investigate Imperva to find out exactly what the company and its officers knew and when."

The deadline to file for lead plaintiff in the securities fraud class action is June 10, 2014.

Persons with non-public information regarding Imperva should consider their options to help in the investigation or take advantage of the SEC (News - Alert) Whistleblower program. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email one of the links above.

About Hagens Berman

Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law firm with offices in nine cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hb-securities.com. Read the firm's Securities Newsletter at http://www.hb-securities.com/newsletter. The firm's blog is located at www.meaningfuldisclosure.com.


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