Levi & Korsinsky is investigating the Board of Directors of Network Equipment Technologies Inc. (“Network Equipment” or the “Company”) (Nasdaq: NWK) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Sonus Networks, Inc. (Nasdaq: SONS).
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Under the terms of the transaction, Network Equipment shareholders will receive $1.35 per share of Network Equipment stock they own. The transaction has an approximate total value of $41.3 million. The investigation concerns whether the Network Equipment Board of Directors breached their fiduciary duties to Network Equipment stockholders by failing to adequately shop the Company before entering into this transaction and whether Sonus Networks, Inc. is underpaying for Network Equipment shares, thus unlawfully harming Network Equipment stockholders. In particular, at least one analyst set a price target of $3.00 per share for the most recent quarter.
If you own common stock in Network Equipment and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
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