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Ademi & O’Reilly, LLP is investigating Aerohive Networks, Inc. (NYSE: HIVE) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Aerohive to Extreme.

Ademi & O’Reilly, LLP alleges Aerohive’s financial outlook is improving and yet shareholders will receive only $4.45 per share.  Extreme is acquiring Aerohive at a substantial discount.  The merger agreement unreasonably limits competing bids for Aerohive by prohibiting solicitation of further bids, and imposing a termination penalty if Aerohive accepts a superior bid. Aerohive insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Aerohive’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Aerohive.