The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Networ...
June 19 2012 - 2:26PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Network Equipment Technologies Inc. (“Network Equipment” or the
“Company”) (Nasdaq: NWK) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Sonus Networks, Inc. (Nasdaq: SONS).
Click here to learn how to join the action:
http://zlk.9nl.com/network-equipment-nwk/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Network Equipment
shareholders will receive $1.35 per share of Network Equipment
stock they own. The transaction has an approximate total value of
$41.3 million. The investigation concerns whether the Network
Equipment Board of Directors breached their fiduciary duties to
Network Equipment stockholders by failing to adequately shop the
Company before entering into this transaction and whether Sonus
Networks, Inc. is underpaying for Network Equipment shares, thus
unlawfully harming Network Equipment stockholders. In particular,
at least one analyst set a price target of $3.00 per share for the
most recent quarter.
If you own common stock in Network Equipment and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either
via email at jlevi@zlk.com or by telephone at (212) 363-7500,
toll-free: (877) 363-5972, or
http://zlk.9nl.com/network-equipment-nwk/.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. The attorneys at Levi & Korsinsky have been appointed
by numerous courts throughout the country to serve as lead counsel
on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any
of the attorneys listed below. Attorney advertising. Prior results
do not guarantee similar outcomes.
Network Equipment Technologies, Inc. (MM) (NASDAQ:NWK)
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