HIVE Aerohive Networks

EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Aerohive Networks, Inc. – HIVE

NEW YORK--(BUSINESS WIRE)--

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of the securities of Aerohive Networks, Inc. (NYSE:HIVE) resulting from allegations that Aerohive may have issued materially misleading business information to the investing public.

On November 1, 2017, during Aerohive’s third quarter 2017 conference call, Aerohive’s CFO, John Ritchie, stated that “[w]e are currently expecting Q4 revenue in the range of $40 million to $42 million,” and that “[w]e realized significant sales efficiency with our non-GAAP sales and marketing costs.” Then, on January 16, 2018, Aerohive announced that it “expects net revenue for the fourth quarter to be approximately $37 million, which is below the Company’s previously stated guidance of $40 million to $42 million.” Aerohive attributed the reduced guidance to “underlying sales execution issues” uncovered at the end of the third quarter. On this news, shares of Aerohive fell $1.63 per share or over 29% from its previous closing price to close at $4.07 per share on January 17, 2018.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Aerohive investors. If you purchased shares of Aerohive, please visit the firm’s website at http://www.rosenlegal.com/cases-1272.html or more information. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

EN
18/01/2018

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