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Kenexa Corporation Investor Class Action Lawsuit 06/15/2009

 

Those who purchased the common stock of Kenexa Corp. (NASDAQ: KNXA) between May 8, 2007 and November 7, 2007 have certain options and there are strict and short deadlines running. Deadline: August 11, 2009 – Those should contact the Shareholders Foundation, Inc.

You may contact us by using this form, or by sending an email to mail@shareholdersfoundation.com, or calling us at (858) 779-1554.

Company Name(s): 
Kenexa Corporation
Case Name: 
Kenexa Corporation Investor Class Action Lawsuit 06/15/2009
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: KNXA
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Class Period Begin: 
05/08/2007
Class Period End: 
11/07/2007
Court of Filing: 
U.S. District Court for the Eastern District of Pennsylvania
Deadline To File for Lead: 
08/11/2009
Summary: 

An investor in Kenexa Corp. (NASDAQ: KNXA) has filed a proposed securities class action lawsuit in the United States District Court for the Eastern District of Pennsylvania on behalf of those who purchased the common stock of Kenexa Corp. (NASDAQ: KNXA) between May 8, 2007 and November 7, 2007 against Kenexa and others over alleged violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that Kenexa Corp. and certain of its officers and directors violated federal securities laws by issuing material misrepresentations to the market concerning Kenexa’s business, prospects and financial condition, thereby artificially inflating the price of Kenexa securities. Then on November 7, 2007, Kenexa issued a press release announcing its financial results for the third quarter of 2007, the period ended September 30, 2007. Following the earnings release, defendants held a conference call to discuss the Company’s earnings and operations. In response to the earnings announcement and the statements made during the conference call, the price of Kenexa stock dropped from $27.84 per share to $16.61 per share, or 40%, on extremely heavy trading volume. Kenexa Corporation, located in Wayne, PA, provides software, content and services that enable organizations to effectively recruit and retain employees. Kenexa’s solutions are built around a suite of software applications that automate talent acquisition and employee performance management practices. Kenexa Corp reported $181.93million in total revenue with a new income of $23.55million in 2007 and $203.73million in total revenue in 2008. Kenexa Corp shares (KNXA) closed at $13.39 per share on Friday, June 12, 2009, down from a 52weekHigh of $24.01 per share and down from $38.72 per share in 2007.

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