An investigation for investors in Aerohive Networks Inc (NYSE:HIVE) shares over potential securities laws violations by Aerohive Networks was announced and NYSE:HIVE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/10/2015 -- An investigation on behalf of investors of Aerohive Networks Inc (NYSE:HIVE) shares over potential securities laws violations by Aerohive Networks and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Aerohive Networks Inc (NYSE:HIVE) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Aerohive Networks Inc (NYSE:HIVE) concerning whether a series of statements by Aerohive Networks regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Aerohive Networks Inc went public in March 2014. Shares of Aerohive Networks Inc (NYSE:HIVE) declined from $11.54 per share in April 2014 to $7.65 per share on October 7, 2014.
Then on October 13, 2014, Aerohive Networks Inc reported its preliminary financial results for the third quarter of fiscal year 2014 ended September 30, 2014. Among other things, Aerohive Networks Inc announced expected revenue for the third quarter to be approximately $34.5 million to $35.5 million, which was below the Company's previously stated guidance of $38 million to $40 million, and an anticipated third quarter net loss per share in the range of $0.18 to $0.16, compared with the Company's previously stated guidance of $0.16 to $0.14. According to Aerohive Networks Inc, the revenues below prior guidance were the result of "weaker-than-expected order volume…primarily in our less-developed sales territories where sales capacity is not ramping as quickly as expected and performance has been inconsistent. Shares of Aerohive Networks Inc declined to as low as $4.26 per share on October 14, 2014.
On February 11, 2015, Aerohive Networks Inc announced its fourth quarter and fiscal year 2014 financial results. Aerohive Networks Inc reported that its annual Total Revenue rose from $107.14 million in 2013 to $137.29 million in 2014 and that its respective Net Loss declined from $33.23 million to $30.55 million. Shares of Aerohive Networks Inc (NYSE:HIVE) declined to as low as $3.43 per share on February 12, 2015.
On March 6, 2015, NYSE:HIVE shares closed at $4.40 per share.
Those who purchased shares of Aerohive Networks Inc (NYSE:HIVE) have certain options and should contact the Shareholders Foundation.
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