Newman Ferrara LLP Announces Investigation of Acme Packet, Inc.

Tue Feb 5, 2013 9:49am EST

* Reuters is not responsible for the content in this press release.

NEW YORK--(Business Wire)--
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: ORCL). 

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

Concerned investors may contact Newman Ferrara attorney Roy Shimon at (212)
619-5400 or 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

Newman Ferrara LLP
Roy Shimon, 212-619-5400

Copyright Business Wire 2013

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.