HARTFORD, Conn., March 25, 2008 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that it is investigating possible securities law violations by Aruba Networks, Inc. ("Aruba Networks" or the "Company") (Nasdaq:ARUN).
The investigation concerns whether Aruba Networks misrepresented materially adverse information, beginning on November 21, 2007, concerning the basis for its revenue projections for the Second Quarter of fiscal year 2008. When Aruba Networks disclosed poor financial results after the end of the Second Quarter, on February 7, 2008, the Company attributed these poor results to facts known to the Company as of November 21, 2007. On this news, the Company's stock fell from a close of $7.76 per share on February 7, 2008 to a close of $4.92 per share on February 8, 2008 -- a drop of $2.86, or almost 37 percent.
If you purchased the common stock of Aruba Networks between November 21, 2007 and February 7, 2008, or if you have additional information about Aruba Networks, or if you would like more information about this investigation, class action cases in general, and your rights, please contact Schatz Nobel Izard P.C. toll-free at (800) 797-5499, or by e-mail at firm@snilaw.com, or visit our website: www.snilaw.com.