SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Aerohive Networks, Inc. (NYSE: HIVE) and certain of its officers. Aerohive designs and develops cloud-managed mobile networking platform that enables enterprises to deploy a mobile-centric network edge.
Specifically, Johnson & Weaver’s investigation seeks to determine whether certain statements regarding the Company’s business and prospects were false and misleading when made.
On March 28, 2014 Aerohive stock traded as high as $10.61 the day the Company sold 7.5 million shares of stock in its initial public stock offering (the “IPO”), raising $75 million in new capital. However, since the IPO the Company stock has imploded, falling from its high of $12.23 on April 2, 2014 to close at $4.62 on March 3, 2015. On October 13, 2014 the Company issued guidance for the third quarter of 2014, the second full quarter as a public company. The Company announced that it was expecting a loss for the quarter in a range of $.16 to $.18 per share, an increase from the previous guidance of $.14 to $.16 per share loss. Revenue guidance was lowered to a range of $34.5 million to $35.5 million, down from $38 million to $40 million. On this news, the shares of Aerohive dropped more than 32%.
If you are an Aerohive shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.