On or around 02/05/2019 (Ongoing date of last review)
Filing Date: January 19, 2018
According to the Complaint, Aerohive designs and develops cloud networking and enterprise Wi-Fi solutions in Americas, Europe, the Middle East and Africa, and the Asia Pacific.
The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) there were underlying sales execution issues that were uncovered at the end of the third quarter of 2017; (2) consequently, Aerohive’s revenue guidance for the fourth quarter of 2017 was overstated; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
On August 9, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on September 28. Defendants filed a Motion to Dismiss the consolidated amended Complaint on October 26. On February 5, 2019, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.
Company & Securities Information
Defendant: Aerohive Networks, Inc.
Industry: Communications Equipment
Headquarters: United States
Ticker Symbol: HIVE
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jacob McGovney, et al. v. Aerohive Networks, Inc., et al.