Law Firm Kirby McInerney LLP Investigating Potential Claims On Behalf Of Acme Packet, Inc. Shareholders
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.
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