WILMINGTON, Del., March 3, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Aruba Networks, Inc. ("Aruba Networks" or the "Company") relating to the sale of the Company to Hewlett-Packard Company ("HP"). On March 2, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which HP will acquire Aruba Networks in a merger worth $3 billion. As a result of the merger, Aruba Networks' shareholders are only anticipated to receive $24.67 per share in cash in exchange for each share of Aruba Networks.
Andrews & Springer's investigation focuses on the inadequate consideration that Aruba Networks' shareholders are expected to receive. Specifically, the anticipated consideration represents no premium based on Aruba Network's $24.81 per share closing price on February 27, 2015. Tellingly, analysts at Yahoo! Finance have set a $34.00 per share price target for Aruba Networks. The anticipated consideration is 27.44% less than what analysts have stated the Company is worth.
As a result of this information, Andrews & Springer is investigating whether Aruba Networks' senior executives and directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value. Andrews & Springer is also investigating the fairness of the sales process conducted by the Company's financial advisors, Evercore Partners and Catalyst Partners.
If you own shares of Aruba Networks and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/ARUN or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.