Imperva Cuts $19M Deal To End Investors' Stock-Drop Row
Law360, San Francisco (September 1, 2017, 1:45 PM EDT) -- Shareholders of data security company Imperva Inc. asked a California federal judge on Thursday to preliminarily approve a $19 million settlement that would resolve putative class claims that the company misled investors and cost them nearly half the value of their investment while letting executives sell off their shares for millions.
Without admitting liability, Imperva has agreed to the $19 million deal, under which class attorneys are asking for $4.85 million in fees, or 25 percent of the settlement, plus interest. The shareholders argued that the deal is fair and reasonable, considering the risks involved with litigation. The shareholders also noted...
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