NEW YORK, NY -- 06/12/09 --
Shalov Stone Bonner & Rocco LLP announces that
a class action lawsuit has been filed on behalf of purchasers of the common
stock of Kenexa Corporation ("Kenexa" or the "Company") (NASDAQ: KNXA)
between May 8, 2007, and November 7, 2007, inclusive (the "Class Period").
The lawsuit is pending in the United States District Court for the Eastern
District of Pennsylvania against Kenexa; Nooruddin S. Karsan, the Chief
Executive Officer of Kenexa; and Donald Volk, the Company's chief financial
officer.
The complaint alleges that, throughout the Class Period, the defendants
violated the federal securities laws by misrepresenting and failing to
disclose material adverse facts that were known to the defendants or
recklessly disregarded by them. More specifically, the complaint alleges,
among other things, that the defendants misrepresented or failed to
disclose the following: that sales cycles for certain of the Company's
lines of business were growing longer, thereby slowing revenue growth; that
Kenexa's international sales were suffering and that the Company would need
to reorganize its sales force as a result; that a significant Kenexa
customer was seeking to be released from its agreements with the Company;
and that, due to the preceding matters, there was no reasonable basis for
the defendants' positive statements about the Company and its financial
condition and business prospects.
Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution
of class actions on behalf of investors. For more information about the
firm, please visit its website at: www.lawssb.com
If you would like additional information about the lawsuit or would like to
participate in it, please contact Thomas G. Ciarlone, Jr., at Shalov Stone
Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York
10018 (telephone: (212) 239-4340; e-mail: tciarlone@lawssb.com).
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT:
Thomas G. Ciarlone, Jr.
SHALOV STONE BONNER & ROCCO LLP
Telephone: (212) 239-4340
Facsimile: (212) 239-4310
Email Contact
http://www.lawssb.com
