STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Aruba Networks, Inc. (“Aruba Networks” or the “Company”) (Nasdaq: ARUN) relating to the proposed buyout of the Company by Hewlett-Packard Company (“HP”).
On March 2, 2015, Aruba Networks and HP announced the signing of a definitive agreement pursuant to which HP will acquire Aruba Networks in a transaction valued at approximately $3.0 billion. Under the terms of the transaction, Aruba Networks shareholders are anticipated to receive $24.67 in cash for each share of Aruba Networks common stock held. The transaction is expected to close in the second half of HP's fiscal year 2015, though Aruba Networks shareholders will most likely be asked to vote on the transaction well before that time.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. In particular, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Aruba Networks stock at $34.00 per share.
If you currently own common stock of Aruba Networks and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.