San Diego, CA -- (ReleaseWire) -- 06/09/2014 -- A deadline is coming up on June 10, 2014 in the lawsuit filed for investors of Imperva Inc (NYSE:IMPV) over alleged securities laws violations by Imperva Inc.
Investors who purchased shares of Imperva Inc (NYSE:IMPV) should get active before the Deadline that is coming up on June 10, 2014 and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers 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.
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 (NYSE:IMPV) declined to as low as $26.67 per share on April 10, 2014.
On April 11, 2014, NYSE:IMPV shares closed at $28.11 per share.
Those who purchased shares of Imperva Inc (NYSE:IMPV) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego