OKLAHOMA CITY--(BUSINESS WIRE)--The law firm of Federman & Sherwood has initiated an investigation into Aerohive Networks, Inc. (NYSE: HIVE) with respect to possible violations of federal securities laws.
Aerohive Networks, Inc. designs and develops cloud-managed mobile networking platforms, providing wireless networking to businesses. Aerohive’s cloud services platform delivers cloud-based network management and mobility applications to its end-customers.
On March 28, 2014, Aerohive conducted its Initial Public Offering (“IPO”) of its securities. Since the IPO date, the Company stock has declined 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 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%.
Federman & Sherwood are investigating whether the Company made false and misleading statements regarding the Company’s business and prospects. If you purchased Aerohive Networks, Inc. securities that can be traced to the Company’s IPO offering on March 28, 2014, and have information to assist in our investigation; or, have any questions or concerns regarding this notice or preservation of your rights, please contact our office. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases.