| Company: | Imperva, Inc |
| Ticker Symbol: | IMPV |
| Class Period: | May-2-13 to Apr-9-15 |
| Date Filed: | May-7-14 |
| Lead Plaintiff Deadline: | Jul-6-14 |
| Court: | Northern District of California |
| Allegations: | |
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, operations and financial performance. The Complaint further alleges that defendants failed to disclose the adverse effect of competitive products on the Company's financial performance and prospects.
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 acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
