Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Aruba Networks, Inc. (NASDAQ: ARUN) breached their fiduciary duties in connection with the proposed sale of the Company to Hewlett-Packard Company.
Additional Information:
Aruba provides enterprise mobility solutions worldwide. It offers access points that deliver secure Wi-Fi client access to indoor and outdoor enterprise wireless local area network environments; and mobility controllers, which manage wired and wireless access across indoor, outdoor, and remotes locations.
On March 2, 2015, Aruba announced it had signed a definitive merger agreement with Hewlett-Packard. Under the terms of the transaction, Aruba shareholders will receive $24.67 per share in cash, or approximately $3.0 billion.
The investigation concerns whether Aruba’s board failed to satisfy their duties to the Company’s 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. Nationally recognized Johnson & Weaver, which focuses its practice on shareholder rights, is investigating whether the proposed deal price represents adequate consideration, especially given the Company’s recent success and promise of future growth. Moreover, one Wall Street analyst has a $34.00 price target on Aruba stock which is more than the $24.67 offer price.
If you are a shareholder of Aruba and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Contacts:
Jim Baker, 619-814-4471
jimb@johnsonandweaver.com