SHAREHOLDER ALERT: Brodsky & Smith, LLC Announces Investigation of The Board of Directors of Procera Networks, Inc. -PKT
22 Apr, 2015, 06:44 ET
BALA CYNWYD, Pa., April 22, 2015 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Procera Networks, Inc. ("Procera" or "the Company") (Nasdaq-PKT-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Francisco Partners Management ("Francisco").
Click here to learn more about the investigation http://brodsky-smith.com/920-pkt-procera-networks-inc.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, Procera shareholders will receive only $11.50 in cash for each share of Procera stock they own. The investigation concerns whether the Board of Procera breached their fiduciary duties to shareholders by failing to adequately consider other strategic initiatives that may have resulted in enhanced value before agreeing to enter into this transaction, and whether Francisco is underpaying for Procera. The transaction may undervalue Procera and will result in a substantial loss for many shareholders. For example, Procera stock traded at $12.21 per share as recently as February 17, 2014 and traded at $25.31 on July 23, 2012. In addition an analyst has set a price target of $12.00 per share.
If you own shares of Procera and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://brodsky-smith.com/920-pkt-procera-networks-inc.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Brodsky & Smith, LLC
Share this article