An investigation on behalf of investors of Procera Networks Inc (NASDAQ:PKT) in connection with the proposed takeover was announced and NASDAQ:PKT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/29/2015 -- An investigation on behalf of investors, who currently hold shares of Procera Networks Inc (NASDAQ:PKT), was announced concerning whether the takeover of Procera Networks Inc by private funds managed by Francisco Partners Management, L.P. for $11.50 per share is unfair to NASDAQ:PKT stockholders.
Investors who purchased shares of Procera Networks Inc (NASDAQ:PKT) and currently hold any of those NASDAQ:PKT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Procera Networks Inc breached their fiduciary duties owed to NASDAQ:PKT investors in connection with the proposed acquisition.
On April 22, 2015, Procera Networks Inc (NASDAQ:PKT) announced that it has signed an agreement to be acquired by private funds managed by Francisco Partners Management, L.P. in an all-cash transaction valued at approximately $240 million.
Under the terms of the proposed transaction, Francisco Partners Management, L.P will commence a tender offer no later than May 5, 2015 to acquire all outstanding shares of Procera Networks' common stock for $11.50 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:PKT shares at $12.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:PKT stockholders. More specifically, the investigation concerns whether the Procera Networks Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Procera Networks Inc reported that its annual Total Revenue rose from $44.40 million in 2011 to $75.41 million in 2014. Shares of Procera Networks Inc (NASDAQ:PKT) traded during 2013 as high as$18.13 per share.
On April 27, 2015, NASDAQ:PKT shares closed at $11.44 per share.
Those who are current investors in Procera Networks Inc (NASDAQ:PKT) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com