Kirby McInerney LLP is investigating potential claims against the Board of Directors of Acme Packet, Inc. (“Acme” or the “Company”) (NASDAQ: APKT) related to the proposed acquisition of the Company by Oracle Corp. (“Oracle”). Under the terms of the agreement, Oracle will acquire all of the outstanding common stock of Acme for $29.25 per share in cash, or a total equity value of approximately $2.1 billion.
The investigation concerns whether the Acme Board of Directors violated its fiduciary duties by agreeing to this transaction and whether the proposed $29.25 per share adequately values Acme common shares. Acme stock traded above the offer price as recently as May 3, 2012, when it reached $30.21 per share, and the 52-week high for the stock is $36.27. Further, at least one analyst has a price target of $30.00 a share.
If you are an Acme shareholder and wish to obtain additional information, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, by telephone at (212) 699-1145 or (888) 529-4787, or by filling out this contact form.
Kirby McInerney LLP is a New York-based law firm concentrating in securities, shareholder, whistleblower, antitrust and consumer litigation. For additional information, please go to www.kmllp.com.