SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Procera Networks, Inc. And Encourages In...
April 27 2015 - 5:11PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Procera Networks, Inc. (“Procera”
or the “Company”) (Nasdaq: PKT) relating to the proposed buyout of
the Company by Francisco Partners Management.
Under the terms of the transaction, Procera shareholders are
anticipated to receive $11.50 in cash for each share of Procera
common stock held. The transaction may undervalue Procera and may
result in a substantial loss for many shareholders. For example,
Procera stock traded at $12.21 per share as recently as February
17, 2014 and traded at $25.31 on July 23, 2012. In addition,
according to Yahoo! Finance, at least one Wall Street analyst has
issued a price target for Procera stock at $ 12.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Procera and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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