Acme Packet, Inc. (NASDAQ:APKT) Investor Investigation Over Potential Breaches Of Fiduciary Duties In Takeover By Oracle

If you purchased shares of Acme Packet, Inc. (NASDAQ:APKT) prior to February 4, 2013, and currently hold any of those NASDAQ:APKT shares, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Acme Packet
Affected Securities: 
NASDAQ: APKT

Feb. 04, 2013 (Shareholders Foundation) -- An investigation on behalf of investors in Acme Packet, Inc. (NASDAQ:APKT) shares was announced concerning whether the offer by Oracle to acquire Acme Packet, Inc. for $29.25 per NASDAQ:APKT share and the takeover process are unfair to investors in NASDAQ:APKT shares.

The investigation by a law firm concerns whether certain officers and directors of Acme Packet, Inc. breached their fiduciary duties owed NASDAQ:APKT investors in connection with the proposed acquisition.

On February 4, 2013, Acme Packet, Inc. (NASDAQ:APKT) announced that it has entered into an agreement to be acquired by Oracle (NASDAQ: ORCL) for $29.25 per share in cash representing a fully diluted equity value of $2.1 billion. Net of cash this represents an enterprise value of $1.7 billion.

However, given that at least one analyst has set the high target price for NASDAQ:APKT shares at $30.00 per share and that NASDAQ:APKT shares traded as recently as February 2012 as high as $35.99 per share, the investigation a law firm concerns whether the proposed transaction is unfair to NASDAQ:APKT stockholders.

Furthermore, Acme Packet‘s financial performance improved over the past years. For instance, Acme Packet, Inc. reported that its annual Revenue rose from $116.36 million in 2008 to $307.32 million in 2011 and its respective Net Income increased from $11.57 million to $44.36 million. Shares of Acme Packet, Inc. (NASDAQ:APKT) grew from $4.37 per share in February 2009 to as high as $82.61 per share in April 2011.
Therefore, the investigation focuses on whether the Acme Packet 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.