May 31, 2013
/PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Aruba Networks, Inc. ("
" or the "Company") (NASDAQ: ARUN).
The investigation focuses on whether
made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the investigation focuses on whether the Company failed to disclose that: (i)
did not hold a competitive advantage over Cisco Systems, Inc. ("Cisco"); (ii)
was aware of the deficiencies in its marketing abilities considering the "bundling" advantages that Cisco had over the Company; and (iii) Cisco's bundling practices would greatly weaken
's market share and overall success rate in completing contracts with clients.
May 7, 2013
announced its third quarter 2013 preliminary results, and decreased its prior revenue guidance from
$159 to $161 million
$144 to 147 million
. Following this news, the Company's shares dropped
per share or nearly 23%, to close at
May 16, 2013
announced in a press release financial results for the third quarter 2013, which reported Non-GAAP net income of
per diluted share, well below analysts' expectations. Although
's pre-Class Period statements downplayed the effect of Cisco's bundling capabilities on the Company's profits,
attributed its negative results on "a heightened level of competition and bundling strategy from our largest competitor [Cisco]." The Company's stock decreased
per share or almost 26%.
Request more information now by clicking here: www.faruqilaw.com/ARUN. There is no cost or obligation to you.
If you invested in
stock or options between
May 17, 2012
May 16, 2013
and would like to discuss your legal rights, visit
. You can also contact us by calling
toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to
. Faruqi & Faruqi, LLP also encourages anyone with information regarding
's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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