Aerohive Networks Inc
24 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
|Company Name:||Aerohive Networks Inc|
|Stock Symbol :||NYSE:HIVE|
|Class Period Start:||11/01/2017|
|Class Period End:||01/16/2018|
|Lead Plaintiff motion:||03/20/2018|
|Type of Case:||Securities Class Action|
|Court:||U.S. District Court for the Northern District of California|
Thieler Law Corp advises investors with losses exceeding $100,000 of the March 20, 2018 lead plaintiff deadline in a class action lawsuit filed against Aerohive Networks Inc (NYSE:HIVE) (“Aerohive” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased Aerohive Networks Inc securities between November 1, 2017 and January 16, 2018, have until March 20, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.
If you purchased Aerohive Networks Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing firstname.lastname@example.org . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.
The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that there were underlying sales execution issues that were uncovered at the end of the third quarter of 2017; consequently, Aerohive’s revenue guidance for the fourth quarter of 2017 was overstated; and as a result, defendants’ public statements were materially false and misleading at all relevant times.
On November 1, 2017, the Company’s CFO, John Ritchie, stated that Aerohive 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.
On January 16, 2018, the Companyrevealed that it expected net revenue of only $37 million for Q4 due to “underlying sales execution issues.”
Following this news, NYSE:HIVE fell $1.63 per share or more than 29%, to close at $4.07 on January 17, 2018.
If you were negatively impacted by your investment in Aerohive Networks Inc securities between November 1, 2017 and January 16, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.
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