LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) continues its investigation on behalf of Aerohive Networks, Inc. (“Aerohive” or the “Company”) (NYSE: HIVE) investors concerning the Company and its officers’ possible violations of federal securities laws. To obtain information or aid in the investigation, please visit the Aerohive investigation page on our website at www.glancylaw.com/case/aerohive-networks-inc.
On November 1, 2017, Aerohive’s CFO, John Ritchie, stated that the Company was expecting Q4 revenue in the range of $40 million to $42 million, and that Aerohive realized “significant sales efficiency” with non-GAAP sales and marketing costs.
Then, on January 16, 2018, Aerohive announced that it expected net revenue of only $37 million for Q4 due to “underlying sales execution issues.” On this news, Aerohive’s share price fell $1.63 per share or more than 29%, to close at $4.07 on January 17, 2018, thereby injuring investors.
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If you purchased Aerohive securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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