Kenexa Notified of Purported Class Action Lawsuit
| Source: Kenexa
WAYNE, PA--(Marketwire - June 12, 2009) - Kenexa (NASDAQ : KNXA ), a global provider of
business solutions for human resources, today announced that it has been
notified that a purported class action complaint had been filed in the
United States District Court for the Eastern District of Pennsylvania
against the Company, its chief executive officer and its chief financial
officer. The complaint alleges that between May 8, 2007 and November 7,
2007 the Company failed to disclose certain facts about the Company's
business, and on that basis the complaint asserts violations of federal
securities laws. Under the provisions of the Private Securities Litigation
Reform Act, it is possible that additional complaints containing similar
allegations may be filed.
The Company stated that it believes that the allegations made in the
complaint are without merit and that it intends to vigorously defend
against the complaint.
About Kenexa
Kenexa® provides business solutions for human resources. We help global
organizations multiply business success by identifying the best individuals
for every job and fostering optimal work environments for every
organization. For more than 20 years, Kenexa has studied human behavior and
team dynamics in the workplace, and has developed the software solutions,
business processes and expert consulting that help organizations impact
positive business outcomes through HR. Kenexa is the only company that
offers a comprehensive suite of unified products and services that support
the entire employee lifecycle from pre-hire to exit. Additional information
about Kenexa and its global products and services can be accessed at
www.kenexa.com.
Forward-Looking Statements
This press release includes certain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995 in which
Kenexa discusses its belief that the purported securities class action
lawsuit referred to above is without merit and that it intends to defend
this suit vigorously. Forward-looking statements include, but are not
limited to, plans, objectives, expectations and intentions and other
statements contained in this press release that are not historical facts
and statements identified by words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates" or words of similar
meaning. These statements may contain, among other things, guidance as to
future revenue and earnings, operations, expected benefits from
acquisitions, prospects of the business generally, intellectual property
and the development of products. These statements are based on Kenexa's
current beliefs or expectations and are inherently subject to various risks
and uncertainties, including those set forth under the caption "Risk
Factors" in Kenexa's most recent Annual Report on Form 10-K as filed with
the Securities and Exchange Commission and as revised or supplemented by
Kenexa's quarterly reports on Form 10-Q. Actual results may differ
materially from these expectations due to changes in global political,
economic, business, competitive, market and regulatory factors, Kenexa's
ability to implement business and acquisition strategies or to complete or
integrate acquisitions, and developments in the litigation. Kenexa does
not undertake any obligation to update any forward-looking statements
contained in this document as a result of new information, future events or
otherwise.