NEW YORK, April 11, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Impreva, Inc. ("Impreva" or the "Company")(NYSE: IMPV). Investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Impreva and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 9, 2014, the Company issued a press release announcing its preliminary first quarter 2014 financial results. The Company reported preliminary total revenue in the range of $31.0 to $31.5 million, which was below the Company's prior guidance of $36.0 to $37.0 million for the first quarter of 2014. Additionally, the Company 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) and a $(0.35) consensus estimate. The Company blamed "'extended sales cycles on deals over $100,000,'" especially in the U.S., and stated that "'intensifi[ed] competition for large orders'" and sales execution issues contributed to the lengthy sales cycles.
On this news, shares of Impreva fell more than 43.69%, on April 10, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP