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Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Network Equipment Technologies Inc. (“Network Equipment” or the “Company”) (NASDAQ: NWK) related to the proposed acquisition of the Company by Sonus Networks Inc. The transaction is valued at approximately $41.3 million or $1.35 per share.
This investigation concerns whether the Board of Directors of Network Equipment breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $0.72 on February 29, 2012 to $1.18 on June 18, 2012. Further, at least one analyst has set a target price for the Company’s stock at $3.00.
If you are a shareholder of Network Equipment, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to
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