NEW YORK, June 27, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Aerohive Networks, Inc. ("Aerohive" or the "Company") (NYSE: HIVE) in connection with the proposed acquisition of the Company by Extreme Networks, Inc. ("Extreme") (NASDAQ: EXTR). Under the terms of the agreement, Aerohive shareholders will receive $4.45 in cash for each HIVE share they own.
If you own HIVE shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
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WeissLaw is investigating whether Aerohive's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $5.00 per HIVE share. In addition, HIVE shares traded for $5.18, or $0.73 above the per share offer price, as recently as February.
Finally, according to the acquisition announcement, the transaction will add critical cloud management and edge capabilities to Extreme's portfolio of networking solutions, strengthen its subscription revenue, and reinforce its market position. Extreme also anticipates expanding "its total addressable market by a total of $1B in a market with a [compound annual growth rate] of 19% 2019 through 2022."
WeissLaw is investigating whether Aerohive's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP