Acme Packet, Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by
Feb 4th 2013 12:31PM
Updated Feb 4th 2013 1:35PM
Acme Packet, Inc. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP
LOS ANGELES--(BUSINESS WIRE)-- Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Acme Packet, Inc. ("Acme" or the "Company") (NAS: APKT) related to the proposed acquisition of the Company by Oracle Corp. The transaction is valued at approximately $2.1 billion or $29.25 per share.
This investigation concerns whether the Board of Directors of Acme breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $15.29 on October 25, 2012 to $24.42 on January 22, 2013. Further, at least one analyst has set a target price for the Company's stock at $30 per share.
If you are a shareholder of Acme, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org.
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Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
Toll Free (888) 773-9224
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