Arista Networks, Inc. (ANET)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Arista Networks, Inc. (ANET)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Arista Networks, Inc.(“Arista” or the “Company”) (NYSE: ANET). The investigation concerns whether Arista and certain of its officers and/or directors have violated federal securities laws.
On October 31, 2019, Arista issued a press release announcing the Company’s financial results for the third quarter of 2019. While Arista’s earnings for the quarter exceeded expectations, the Company advised investors that it “exepct[ed] a sudden softening in Q4 with a specific cloud titan customer.” Comments by Arista’s officers during the Company’s quarterly earnings call seemed to confirm that the “titan customer” was Facebook, Inc. Multiple analysts downgraded Arista following the Company’s announcements. On this news, Arista’s stock price fell $59.27 per share, or 24.23%, to close at $185.30 per share on November 1, 2019.
If you are aware of any facts relating to this investigation, or purchased Arista shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.