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Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Aruba Networks, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Aruba Networks, Inc. (“Aruba” or the “Company”) (NASDAQ: ARUN).
The investigation focuses on whether Aruba 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) Aruba did not hold a competitive advantage over Cisco Systems, Inc. (“Cisco”); (ii) Aruba 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 Aruba’s market share and overall success rate in completing contracts with clients.
On May 7, 2013, Aruba announced its third quarter 2013 preliminary results, and decreased its prior revenue guidance from $159 to $161 million to $144 to 147 million. Following this news, the Company’s shares dropped $5.03 per share or nearly 23%, to close at $17.02 per share.
If you invested in Aruba stock or options between May 17, 2012 and May 16, 2013 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Aruba's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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