Pomerantz Haudek Grossman & Gross LLP is investigating claims on behalf of investors of Network Equipment Technologies, Inc. (“Network Equipment” or the “Company”) (NASDAQ: NWK) (ISIN: US6412081035) concerning the proposed acquisition of Network Equipment by Sonus Networks, Inc. in a cash transaction valued at approximately $42 million.
The investigation concerns whether the Network Equipment directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Network Equipment shareholders would receive $1.35 in cash per share of Network Equipment common stock. However, the price to Revenue and Asset multiples are below that of comparable transactions. Additionally, Network Equipment stock has traded as high as $2.81 per share in the last year.
Network Equipment shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 314.
The Pomerantz Firm, with offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See