Elliott Associates discloses nearly 10 percent stake in Imperva

(Reuters) - Elliott Associates LP, a unit of activist hedge fund Elliott Management Corp, disclosed a stake of nearly 10 percent in Imperva Inc IMPV.N, saying it believed that the data security company's stock was "materially undervalued."

Imperva shares surged 9 percent to $44.16 in extended trading on Monday.

Elliott Associates, which along with its affiliates took a stake of about 9.8 percent in Imperva, said in a filing that it had started talks with the company's management on "strategic and operational opportunities." (

Separately, Imperva's co-founder and former Chief Executive Shlomo Kramer disclosed a sale of 75,000 shares of the company between June 16 and June 20. (

Kramer was Imperva’s largest shareholder as of December 2015.

Reporting by Anya George Tharakan in Bengaluru; Editing by Kirti Pandey