SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Aerohive Networks, Inc. (HIVE)

NEW YORK, Jan. 19, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Aerohive Networks, Inc. ("Aerohive " or the "Company") (NYSE: HIVE). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/hive.

The investigation concerns whether Aerohive and certain of its officers and/or directors have violated Sections federal securities laws.

On November 1, 2017, Aerohive held its third quarter 2017 conference call, when CFO, John Ritchie, said that "[w]e are currently expecting Q4 revenue in the range of $40 million to $42 million," and that "[w]e realized significant sales efficiency with our non-GAAP sales and marketing costs." Then, on January 16, 2018, Aerohive revealed that it "expects net revenue for the fourth quarter to be approximately $37 million, which is below the Company's previously stated guidance of $40 million to $42 million." Aerohive noted that the reduced guidance to was due to "underlying sales execution issues" revealed at the end of its third quarter. Following this news, Aerohive stock dropped $1.63 per share or over 29% to close at $4.07 per share on January 17, 2018.

 If you are aware of any facts relating to this investigation, or purchased shares of Aerohive, you can assist this investigation by visiting the firm's site: www.bgandg.com/hive. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.   Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]

SOURCE Bronstein, Gewirtz & Grossman, LLC