Offices of Howard G. Smith announces that a class action lawsuit has
been filed in the United States District Court for the Northern District
of California on behalf of all purchasers of the securities of Imperva,
Inc. ("Imperva" or the "Company") (NYSE:IMPV) between May 2, 2013 and
April 9, 2014, inclusive (the "Class Period").
Imperva develops, markets, sells, services and supports data center
security solutions for protection of high-value applications and data
assets in physical and virtual data centers. The Complaint alleges that
throughout the Class Period defendants issued materially false and
misleading statements concerning Imperva's business, opeations and
financial performance, and failed to disclose the adverse effect of
competitive products on the Company's financial performance and
On April 9, 2014, Imperva announced its preliminary first quarter 2014
financial results, including preliminary total revenue and earnings per
share below the Company's prior guidance. According to the Company,
Imperva's first quarter results were affected by "extended sales cycles
on deals over $100,000," resulting from "a combination of intensifying
competition for large orders, which resulted in additional review and
approval cycles, as well as sales execution challenges in the U.S."
Following this news, Imperva's stock price dropped $21.73 per share on
April 10, 2014, a one-day decline of nearly 44%, on heavy trading volume.
If you purchased Imperva securities during the Class Period, you have 60
days from April 11, 2014, to move the Court to serve as lead plaintiff,
if you meet certain legal requirements. To be a member of the Class you
need not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class. If
you wish to learn more about this action, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847,
Toll Free at (888) 638-4847, or by email to email@example.com,
or visit our website at http://www.howardsmithlaw.com.
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