Harwood Feffer LLP Announces Investigation of Imperva, Inc.
NEW YORK, April 15, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against Imperva, Inc. ("Imperva" or the "Company") (NYSE: IMPV) and its board of directors concerning whether the board has breached its fiduciary duties to shareholders or violated the federal securities laws.
On April 9, 2014, Imperva announced preliminary first quarter 2014 financial results. The Company disclosed total revenue in the range of $31 - $31.5 million, below the Company's previous forecast of approximately $37 million for the first quarter of 2014. Imperva also reported an expected net loss per share in the range of $0.40 to $0.44, below its prior guidance of $0.33 to $0.37.
The Company blamed "extended sales cycles on deals over $100,000" and stated that competition for large orders and sales execution issues contributed to the lengthy sales cycles. On this news, Imperva's stock plummeted $21.73 per share to close at $28 per share on April 10, 2014, a one-day decline of nearly 44%.
If you own Imperva shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP