NEW ORLEANS, April 11, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 10, 2014 to file lead plaintiff applications in a securities class action lawsuit against Imperva Inc. (NYSE:IMPV), if they purchased the Company's securities during the period between May 2, 2013 and April 9, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased shares of Imperva and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 10, 2014.
About the Lawsuit
Imperva and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On April 9, 2014, Imperva announced its preliminary first quarter 2014 financial results, including revenue of $31.0-$31.5 million, below its prior guidance of $36.0-$37.0 million, and an expected net loss per share of $(0.40)-$(0.44), below its prior guidance of $(0.33)-$(0.37) and a $(0.35) consensus estimate. On this news, Imperva's stock plummeted by nearly 44%.
The action also alleges that Imperva's top officers and directors sold $25.9 million worth of their stock during the Class Period while in possession of material adverse information, including $11.8 million worth of stock sold by the Chief Executive Officer and Chief Financial Officer.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.