An investigation for investors in Arista Networks, Inc. (NYSE: ANET) shares over potential securities laws violations by Arista Networks, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 11/19/2019 -- An investigation was announced concerning possible securities laws violations by Arista Networks, Inc. in connection with certain financial statements.
Investors who purchased shares of Arista Networks, Inc. (NYSE: ANET), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Arista Networks, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Santa Clara, CA based Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Arista Networks, Inc. develops, markets, and sells cloud networking solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Arista Networks, Inc. reported that its annual Total Revenue rose from over $1.64 billion in 2017 to over $2.45 billion in 2018 and that its Net Income declined $423.2 million in 2017 to $328.11 million in 2018.
On October 31, 2019, after the market closed, Arista Networks, Inc announced the Company's financial results for the third quarter of 2019. In a press release, the Company advised investors that it "expect[ed] a sudden softening in Q4 with a specific cloud titan customer." During the Company's quarterly earnings call, Arista's officers made comments that seemed to confirm that the "titan customer" was Facebook, Inc.
Shares of Arista Networks, Inc. (NYSE: ANET) declined from $306.46 per share in April 2019 to as low as $173.31 per share on November 1, 2019.
Those who purchased shares of Arista Networks, Inc. (NYSE: ANET) have certain options and should contact the Shareholders Foundation.
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