SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Aruba Networks, Inc. And Encourages Inve...
March 09 2015 - 5:57PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Aruba Networks, Inc. (“Aruba
Networks” or the “Company”) (Nasdaq: ARUN) relating to the proposed
buyout of the Company by Hewlett-Packard Company (“HP”).
On March 2, 2015, Aruba Networks and HP announced the signing of
a definitive agreement pursuant to which HP will acquire Aruba
Networks in a transaction valued at approximately $3.0 billion.
Under the terms of the transaction, Aruba Networks shareholders are
anticipated to receive $24.67 in cash for each share of Aruba
Networks common stock held. The transaction is expected to close in
the second half of HP's fiscal year 2015, though Aruba Networks
shareholders will most likely be asked to vote on the transaction
well before that time.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock. In particular, according to Yahoo! Finance, at least one
Wall Street analyst has issued a price target for Aruba Networks
stock at $34.00 per share.
If you currently own common stock of Aruba Networks and would
like to learn more about the investigation being conducted by
Brower Piven, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com