Lead Plaintiff Deadline is March 20, 2018

NEW YORK, Jan. 26, 2018 (GLOBE NEWSWIRE) --

Wolf Haldenstein Adler Freeman & Herz LLP  LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Aerohive Networks, Inc. (“Aerohive” or the “Company”) (NYSE:HIVE) and certain of its officers with a class period of between November 1, 2017, and January 16, 2018, inclusive.

Investors who have incurred losses in Aerohive Networks, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares of Aerohive Networks, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than March 20, 2018, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Aerohive Networks, Inc.

Aerohive supplies wireless infrastructure equipment.  The Company designs cooperative control wireless  architecture, cloud-enabled network management, routing, and virtual private network  solutions.  Aerohive serves the healthcare, education, manufacturing, distribution, and  retail industries throughout the United States.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

• Aerohive had uncovered sales execution issues at the Company at the end of the third quarter of 2017;
   
• consequently, Aerohive’s revenue guidance for the fourth quarter of 2017 was overstated; and
   
• as a result, Aerohive’s public statements were materially false and misleading at all relevant times.

On January 16, 2018 after the close of trading, Aerohive issued a press release entitled “Aerohive  Networks  Announces  Preliminary Fourth Quarter 2017  Financial Results,” revealing 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 attributed the reduced guidance to“underlying sales execution issues” uncovered at the end of the third quarter.

On this news, Aerohive’s share price fell  $1.63, or 28.6%, to close at  $4.07 on January 17, 2018, damaging investors.

Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.  The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego.  The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

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