Aruba Hit With Shareholder Suit Over $2.8B HP Deal

Law360, New York (April 2, 2015, 2:34 PM EDT) -- Aruba Networks Inc. was hit with a proposed securities class action in California federal court this week for allegedly misleading investors over a proposed $2.78 billion merger with Hewlett-Packard Co. through false proxy statements aimed at gaining shareholder support for what plaintiffs claim is an inside deal.

The complaint, filed Wednesday, attacks the proposed merger as a result of an unfair sales process that was rigged to give HP the sole path toward acquiring Aruba, claiming the deal was driven by the wireless company’s board of...
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Case Title

Newfield v. Aruba Networks, Inc. et al


Case Number

5:15-cv-01502

Court

California Northern

Nature of Suit

Securities/Commodities

Date Filed

April 1, 2015

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