NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Imperva, Inc. ("Imperva" or the "Company") (NYSE:IMPV) common stock between May 2, 2013 and April 9, 2014.
For more information, click here: http://zlk.9nl.com/imperva-inc-impv.
The complaint alleges that defendants issued materially false and misleading statements regarding the Company's business, operations, and financial results. It is further alleged that as a result of these statements, Imperva securities traded at artificially inflated prices, and that during this time period Imperva officers and directors were able to sell $25.9 million worth of Imperva stock at the inflated prices.
On April 9, 2014, Imperva reduced its first quarter revenue guidance from its previous outlook of $34M to $35M to just $31M to $31.5M. The Company stated that the adjustment resulted primarily from an extended sales cycle on deals over $100,000, which led to "delays in receiving anticipated orders from customers,… which [then] resulted in lower than expected revenue for products." The next day, Imperva stock plummeted more than 43% to close at $28 per share.
If you suffered a loss in Imperva you have until June 10, 2014 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/imperva-inc-impv.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP