Aruba Networks (ARUN) IPO
Keywords: Aruba | Lawyer | Networks | Lawsuit | IPO | Stock | Shareholder | Fraud | Attorney
In conjunction with our partner lawyers and attorneys, we are currently investigating claims for Aruba Networks shareholders who purchased shares of Aruba Networks and lost money on their investment as a result of the Company's recent announcements.
Our investigation revolves around whether Aruba Networks, certain of its officers and directors, and the Company's underwriters included, or allowed the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the Aruba Networks IPO, in violation of the Securities Act of 1933. Recent corrective disclosures have caused the price of shares of Aruba Networks to fall precipitously.
Our Experienced Stock Fraud Lawyers and Attorneys Have Years of Experience Representing Shareholders in Numerous IPO Lawsuits.
On March 26, 2007 Aruba Networks raised $88 million on its initial public offering, with its stock selling at $11 per share. The deals underwriters, led by Goldman Sachs & Co. and Lehman Brothers, had the option to purchase an additional 1.2 million shares to cover over allotments.
On February 7, 2008, Aruba Networks said it expected a second-quarter net loss of 4 cents to 5 cents a share on revenue of $40 million to $41 million, due to a 'significant decrease' in revenue associated with the delay in approval of the federal budget. Following the announcement, Aruba Networks' stock closed the regular session down 33 cents, or about 4.1%, at $7.76.
Analysts on average were expecting earnings of 5 cents a share. "...We experienced a significant decrease in revenues in the Federal vertical in conjunction with the delay in the approval of the Federal budget," Chief Executive Dominic Orr said in a statement.
If you purchased stock during the Aruba Networks IPO and have suffered a financial loss, you have valuable legal rights. Please fill out our online form or call us at 1-800-LAW INFO (1-800-529-4636) for a free consultation with one of our experienced stock fraud lawyers today.