Procera Networks, Inc. Shareholder Alert: Bernstein Liebhard LLP Announces Investigation of Acquisition by Francisco Partners
April 22, 2015
Bernstein Liebhard LLP is investigating whether the Board of Directors of Procera Networks, Inc. (“Procera” or the “Company”) (NASDAQ: PKT) breached its fiduciary duty to its shareholders in agreeing to sell Procera to by private funds managed by Francisco Partners Management, L.P.
Under the terms of the agreement, Procera shareholders will receive $11.50 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Procera shareholders and the process by which the Procera Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.