The Shareholders Foundation announces that an investor, who purchased shares of Imperva Inc (NYSE:IMPV), filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Imperva Inc in connection with certain allegedly false and misleading statements made between May 2, 2013 and April 9, 2014.
Investors who purchased shares of Imperva Inc (NYSE:IMPV) have certain options and for certain investors are short and strict deadlines running. Deadline: June 10, 2014. Imperva Inc (NYSE:IMPV investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Imperva Inc (NYSE:IMPV) between May 2, 2013 and April 9, 2014, that Imperva Inc and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff claims that between May 2, 2013 and April 9, 2014.defendants issued materially allegedly false and misleading statements regarding the Company’s operations and business and its financial results and that as a result of defendants’ statements, Imperva Inc securities traded at allegedly artificially inflated prices between May 2, 2013 and April 9, 2014, with its stock price reaching a high of $65.53 per share on March 6, 2014, and that the Company’s top officers and directors were able to sell $25.9 million worth of their Imperva Inc stock at allegedly inflated prices, including $11.8 million worth of stock sold by the Chief Executive Officer and the Chief Financial Officer.
Imperva Inc reported that its annual Total Revenue rose from $104.23 million in 2012 to $137.76 million in 2013 while its Net Loss increased from $7.39 million in 2011 to $25.18 million in 2013.
Shares of Imperva Inc (NYSE:IMPV) grew from $28.52 per share in late 2012 to as high as $65.53 per share in early March 2014.
Then on April 9, 2014, Imperva Inc announced its preliminary first quarter 2014 financial results. Imperva Incsaid that it expects to report total revenue for the first quarter of 2014 in the range of $31.0 million to $31.5 million compared to the company’s prior guidance of total revenue in the range of $36.0 million to $37.0 million.
Imperva Inc also said that it expects to report non-GAAP operating loss in the first quarter of 2014 in the range of $(9.5) million to $(10.5) million, and expects to report non-GAAP net loss per share attributable to Impervastockholders in the range of $(0.40) to $(0.44) using approximately 25.2 million weighted average shares, based on preliminary financial information, which is compared to the company’s prior guidance of a non-GAAP operating loss in the range of $(8.0) million to $(9.0) million and non-GAAP net loss per share attributable to Imperva stockholders in the range of $(0.33) to $(0.37).
Shares of Imperva Inc declined to as low as $18.61 per share on May 9, 2014.
On May 19, 2014, NYSE:IMPV shares closed at $21.05 per share.
Those who purchased shares of Imperva Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego