SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

June 12, 2009 16:39 ET

Shalov Stone Bonner & Rocco LLP Announces That a Securities Fraud Class Action Has Been Filed Against Kenexa Corporation

NEW YORK, NY--(Marketwire - June 12, 2009) - 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:

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:

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