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| Protecting the Rights of Shareholders and Consumers |
Starent Networks, Inc. Securities Litigation
Starent Networks, Inc. (NasdaqGS: STAR) shareholder litigation over alleged unfair takeover
On October 13, 2009, Starent Networks, Inc. (“Starent” or the “Company”) announced that it agreed to sell the Company to Cisco
Systems Inc. (NasdaqGS: CSCO). Under the terms of the agreement, Starent shareholders will receive $35.00 in cash for each
share of Starent common stock they own.
For the year ending December 31, 2008, the Company reported revenues of $254,076,000 and net income of $60,524,000 as
compared to revenues of $145,797,000 and net income of $5,485,000 for the year ended December 31, 2007. The investigation
concerns whether the Starent Board of Directors breached their fiduciary duties to Starent shareholders by agreeing to sell the
Company at an unfair price thereby harming Starent shareholders.
On October 13, 2009, Starent Networks, Inc. (“Starent” or the “Company”) announced that it agreed to sell the Company to Cisco
Systems Inc. (NasdaqGS: CSCO). Under the terms of the agreement, Starent shareholders will receive $35.00 in cash for each
share of Starent common stock they own.
For the year ending December 31, 2008, the Company reported revenues of $254,076,000 and net income of $60,524,000 as
compared to revenues of $145,797,000 and net income of $5,485,000 for the year ended December 31, 2007. The investigation
concerns whether the Starent Board of Directors breached their fiduciary duties to Starent shareholders by agreeing to sell the
Company at an unfair price thereby harming Starent shareholders.
