LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that it is investigating potential claims against Aruba Networks, Inc. (“Aruba Networks” or the “Company”) (NASDAQ:ARUN) concerning possible violations of federal securities laws. The investigation focuses on certain statements issued by Aruba Networks between May 17, 2012 and May 16, 2013 regarding the Company’s business and financial prospects.
Aruba Networks provides network access solutions for mobile enterprises worldwide. The investigation concerns allegations that the Company misrepresented or failed to disclose that Aruba Networks did not hold a competitive advantage over its competitor Cisco Systems, Inc. (“Cisco”) -- even though Aruba Networks was aware of the weaknesses in the Company’s marketing abilities, and that the “bundling” advantages Cisco held over Aruba Networks would significantly undermine the Company’s market share.
On May 16, 2013, Aruba Networks issued a press release announcing that its financial results for third-quarter 2013 were well below analysts’ expectations, a result the Company attributed to “a heightened level of competition and bundling strategy from our largest competitor [Cisco].” As a result of this news, Aruba Networks stock declined $4.51 per share, or nearly 26%, on May 17, 2013.
If you purchased Aruba Networks stock during the foregoing period, if you have information or would like to learn more about these claims, or if you purchased Aruba Networks stock prior to May 17, 2012 and wish to discuss these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.
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