According to the Complaint, Aerohive Networks, Inc. designs cloud networking and enterprise Wi-Fi solutions in the 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. On March 7, Lead Plaintiff filed a consolidated second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on March 28. On August 7, the Court issued an Order granting Defendants' Motion to Dismiss.