NEW YORK, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Arista Networks, Inc. (“Arista” or the “Company”) (ANET). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Arista and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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 “expect[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.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 9980