|[February 04, 2013]
Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Acme Packet, Inc. Proposed Acquisition by Oracle
SAN DIEGO --(Business Wire)--
Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating
whether members of the board of directors of Acme Packet (News - Alert), Inc. (Nasdaq:
APKT) breached their fiduciary duties in connection with the proposed
acquisition by Oracle Corporation.
On February 4, 2013, Oracle (News - Alert) announced that it had entered into a
definitive merger agreement to acquire all outstanding shares of APKT.
Under the terms of the deal, Oracle will pay $29.25 a share in cash.
The investigation will determine whether Acme Packet's board of
directors breached their fiduciary duties to stockholders by failing to
satisfactorily shop the company before entering into this agreement. Jim
Baker, lead analyst for Johnso & Weaver, stated that, "Oracle's offer
appears to be inadequate and not in the best interest of Acme Packet's
shareholders." In particular, Baker noted that Acme Packet has a strong
balance sheet with over $350 million in cash and no long-term debt.
Baker also noted that many analysts have projected significant increases
in Acme Packet's revenues and earnings for the current year.
If you are an Acme Packet, Inc. shareholder and are interested in
learning more about the investigation or your legal rights and remedies,
please contact attorney Shawn Fields (firstname.lastname@example.org)
or lead analyst Jim Baker (email@example.com)
Johnson & Weaver, LLP is a nationally recognized shareholders' rights
law firm. The firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.
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