Newman Ferrara LLP Announces Investigation of Acme Packet, Inc.
Newman Ferrara LLP is investigating potential claims against the board
of directors of Acme Packet, Inc. (“Acme”) (Nasdaq: APKT) concerning the
proposed acquisition of Acme by Oracle Corporation (“Oracle”) (Nasdaq:
On February 4, 2013, Acme announced that it had entered into an
agreement and plan of merger to be acquired by Oracle in a cash deal
valued at approximately $1.7 billion. Under the terms of the agreement,
Acme’s shareholders will receive $29.25 in cash per share of Acme stock
owned. However, Acme stock traded at above the $29.25 per share offer
price as recently as May 3, 2012 when it reached $30.21 per share. The
$29.25 per share offer price is also well below Acme’s 52-week trading
high of $36.27 per share.
Acme’s Board of Directors has unanimously approved the proposed deal
which is expected to close during the first half of this year.
Newman Ferrara LLP’s investigation concerns whether Acme’s Board of
Directors has breached its fiduciary duties to act in the best interests
of Acme’s shareholders and to take all necessary steps to ensure that
Acme’s shareholders receive the maximum value readily available for
their shares of Acme common stock.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at
(212) 619-5400 or firstname.lastname@example.org
to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City
with attorneys specializing in complex commercial and multi-party
litigation, securities fraud and shareholder litigation, consumer
protection, civil rights, and real estate. For more information, please
visit the firm website at www.nfllp.com.