NEW YORK, Feb. 12, 2016 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased Imprivata, Inc. ("Imprivata" or the "Company") (NYSE:IMPR) common stock during the period between July 30, 2015 and November 2, 2015, inclusive (the "Class Period").
Shareholders who incurred losses on shares purchased within the class period are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
If you purchased shares of Imprivata, Inc. within the period July 30, 2015 and November 2, 2015, inclusive, you may, no later than April 4, 2016, request that the Court appoint you lead plaintiff of the proposed class.
On October 14, 2015, Imprivata issued a press release preliminarily announcing its third quarter 2015 ("3Q15") financial results for the period ended September 30, 2015. The complaint alleges that rather than the revenues of $31-$31.5 million and losses of $0.20 per share that the Company had stated it was on track to achieve at the start of the Class Period, Imprivata reported that its 3Q15 sales would come in at or below $29.2 million and that its losses would exceed $0.22 per share. According to the complaint, the Company also disclosed several negative sales trends that had been adversely affecting sales in 3Q15. On this news, the market price of Imprivata common stock declined precipitously, falling more than $5 per share.
Finally, on November 2, 2015, after the close of trading, the Company issued a press release disclosing 3Q15 financial results along the same lines preliminarily announced on October 14, 2015. The complaint alleges that defendants disclosed additional detail concerning the adverse sales trends the Company had experienced during the 3Q15, announced reduced fiscal 2015 guidance and disclosed that the negative sales trends would continue to diminish sales into fiscal 2016. According to the complaint, on this news, the price of Imprivata common stock declined further, closing at $9.42 on the next trading day.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com. All e-mail correspondence should make reference to the “Imprivata Investigation.”
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