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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Aerohive Networks, Inc. (“Aerohive” or the “Company”) (NYSE: HIVE) to Extreme Networks, Inc. (“Extreme”) (NASDAQGS: EXTR). Under the terms of the deal, Extreme will acquire all of the outstanding shares of common stock of Aerohive at a price of $4.45 per share in cash.
The Aerohive merger investigation concerns whether the Board of Aerohive breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Extreme is underpaying for Aerohive shares, thus unlawfully harming Aerohive shareholders.
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