Law Firm Brower Piven Announces Investigation In Connection With The Acquisition Of Network Equipment Technologies, Inc. By Sonus Networks, Inc.

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Network Equipment Technologies, Inc. (NASDAQ: NWK) (“NWK”) and other violations of state law by the board of directors of NWK relating to the proposed acquisition of the company by Sonus Networks, Inc. (“Sonus”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.

On June 19, 2012, NWK and Sonus announced that they had entered into a definitive agreement providing for Sonus to acquire NWK for $42 million. Under the terms of the merger agreement, NWK shareholders will receive $1.35 for each share of NWK common stock held. However, according to Yahoo! Finance, analysts have set a mean price target of $3.00 per share, and NWK shares have traded above the deal price as recently as February 1, 2012.

If you currently own shares of NWK and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.

Copyright Business Wire 2010

If you liked this article you might like

Network Equipment Technologies' CEO Discusses F4Q 2012 Results - Earnings Call Transcript

Network Equipment Technologies' CEO Comments On Company's Recent Actions And Near Term Strategy Conference Call (Transcript)

Network Equipment Technologies' CEO Comments On Company's Recent Actions And Near Term Strategy (Transcript)

Network Equipment Technologies CEO Discusses F3Q2012 Results - Earnings Call Transcript

TripAdvisor to Join S&P 500

TripAdvisor to Join S&P 500