A lawsuit was filed for certain investors in shares of Aruba Networks, Inc. (NASDAQ:ARUN) over alleged securities laws violations. Deadline: July 22, 2013. NASDAQ:ARUN investors should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 05/28/2013 -- An investor in shares of Aruba Networks, Inc. (NASDAQ:ARUN) filed a lawsuit in the U.S. District Court for Northern District of California over alleged violations of Federal Securities Laws by Aruba Networks, Inc. in connection certain allegedly false and misleading statements made between May 17, 2012 and May 16, 2013.
Investors who purchased a large amount of shares of Aruba Networks, Inc. (NASDAQ:ARUN) between May 17, 2012 and May 16, 2013, and/or those who purchased NASDAQ:ARUN shares prior to May 2012 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: July 22, 2013. NASDAQ:ARUN investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Aruba Networks, Inc. (NASDAQ:ARUN) between May 17, 2012 and May 16, 2013, that Aruba Networks, Inc. and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
More specifically, the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose that Aruba Networks, Inc. did not hold a competitive advantage over Cisco Systems, Inc. , that Aruba Networks, Inc. was well aware of the weaknesses in its marketing abilities given the "bundling" advantages that Cisco Systems, Inc. held over Aruba, that Cisco Systems’ bundling practices would greatly undermine Aruba Networks’ market share and overall success rate in signing contracts with clients, and that as a result of the above, Aruba Networks’ financial statements were materially false and misleading at all relevant times.
On May 7, 2013, Aruba Networks, Inc. announced its preliminary fiscal third quarter 2013 results and lowered its previously stated revenue guidance.
Shares of Aruba Networks, Inc. declined from $22.10 per share on May 6, 2013, to $16.78 per share on May 7, 2013.
On May 16, 2013, after the close of the market, it announced its third quarter financial results.
Shares of Aruba Networks, Inc. declined to $12.505 on May 17, 2013.
On May 24, 2013, NASDAQ:ARUN shares closed at $13.30 per share.
Those who purchased shares of Aruba Networks, Inc. (NASDAQ:ARUN), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego