April 28, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Procera Networks Inc (NASDAQ:PKT), was announced concerning whether the takeover of Procera Networks Inc by private funds managed by Francisco Partners Management, L.P. for $11.50 per share is unfair to NASDAQ:PKT stockholders.

The investigation by a law firm concerns whether certain officers and directors of Procera Networks Inc breached their fiduciary duties owed to NASDAQ:PKT investors in connection with the proposed acquisition.

On April 22, 2015, Procera Networks Inc (NASDAQ:PKT) announced that it has signed an agreement to be acquired by private funds managed by Francisco Partners Management, L.P. in an all-cash transaction valued at approximately $240 million.
Under the terms of the proposed transaction, Francisco Partners Management, L.P will commence a tender offer no later than May 5, 2015 to acquire all outstanding shares of Procera Networks common stock for $11.50 per share in cash.

However, given that at least one analyst has set the high target price for NASDAQ:PKT shares at $12.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:PKT stockholders. More specifically, the investigation concerns whether the Procera Networks Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Procera Networks Inc reported that its annual Total Revenue rose from $44.40 million in 2011 to $75.41 million in 2014. Shares of Procera Networks Inc (NASDAQ:PKT) traded during 2013 as high as$18.13 per share.