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Case Status:    DISMISSED    
On or around 09/27/2010 (Ongoing date of last review)

Filing Date: June 11, 2009

According to a press release dated June 11, 2009, the complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose the following adverse facts, among others: (i) that sales cycles for the Company’s Employment Process Outsourcing (“EPO”) and assessments lines of business were lengthening, causing sales to be pushed out and revenue growth to slow; (ii) that the Company was experiencing problems with its international sales and would need to revamp that sales force; (iii) that the Company was experiencing problems with a significant EPO client such that the client was requesting to be released from its contract with the Company; and (iv) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its earnings, operations and prospects.

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.

On September 11, 2009, an order that the motion for consolidation and appointment as lead plaintiff and approval of its selection of lead counsel was granted in part and denied in part; the motion was granted insofar as it relates to the appointment of lead plaintiffs and selection of lead counsel; the motion was denied as moot insofar as it relates to consolidating of cases.

On October 26, 2009, an amended complaint was filed in this action against the defendants.

On September 27, 2010, the Defendants motion to dismiss was granted and the action was dismissed in its entirety with prejudice and the Clerk of Court closed this action.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KNXA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Pennsylvania
DOCKET #: 09-CV-02642
JUDGE: Hon. JUAN R. SANCHEZ
DATE FILED: 06/11/2009
CLASS PERIOD START: 05/08/2007
CLASS PERIOD END: 11/07/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (Melville)
    58 South Service Road, Suite 200, Coughlin Stoia Geller Rudman & Robbins LLP (Melville), NY 11747
    631.367.7100 631.367.1173 · info@csgrr.com/
  2. Law Offices of Bernard M. Gross (Philadelphia)
    John Wanamaker Building; 100 Penn Square East, Suite 450, Law Offices of Bernard M. Gross (Philadelphia), PA 19107
    215.561.3600 215.561.3600 · susang@bernardmgross.com
  3. Sugarman & Susskind
    100 Miracle Mile, Suite 300, Sugarman & Susskind, FL 33134
    305/529-2801 305/447-8115 ·
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 09-CV-02642
JUDGE: Hon. JUAN R. SANCHEZ
DATE FILED: 10/26/2009
CLASS PERIOD START: 05/08/2007
CLASS PERIOD END: 11/07/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 · info@csgrr.com/
  2. Law Offices of Bernard M. Gross (Philadelphia)
    John Wanamaker Building; 100 Penn Square East, Suite 450, Law Offices of Bernard M. Gross (Philadelphia), PA 19107
    215.561.3600 215.561.3600 · susang@bernardmgross.com
No Document Title Filing Date
No Document Title Filing Date