An investigation on behalf of current investors Starent Networks Corp. (Public, NASDAQ:STAR), who purchased the shares before October 13, 2009, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price were announced.

The investigation by a law firm focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Starent Networks Corp. (Public, NASDAQ:STAR) arising out of their attempt to sell Starent Networks, Corp. (STAR) to Cisco.

On October 13, 2009, Starent Networks (NASDAQ: STAR) and Cisco (NASDAQ: CSCO) announced a definitive agreement for Cisco to acquire Starent Networks. Under the terms of the proposed agreement, Cisco will pay $35 per share in cash in exchange for each share of Starent Networks and assume outstanding equity awards for an aggregate purchase price of approximately $2.9 billion. According to Starent Networks the acquisition has been approved by the boards of directors of both companies.

But according to an investigation by a law firm the transaction appears to be unfair to current investors of Starent Networks Corp. (Public, NASDAQ:STAR) because the offer to purchase Starent Networks, Corp at $35 per share appears opportunistically timed to take advantage of the current economic downturn. 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, whether the directors of STAR may have breached their fiduciary duties by not acting in STAR shareholders' best interests in connection with the sale process of STAR, and the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, Cisco may be underpaying for Starent Networks, thus unlawfully harming STAR shareholders.

Starent Networks, Corp., located in Tewksbury, MA, is a provider of infrastructure hardware and software products and services that enable mobile operators to deliver multimedia services to their subscribers. The Companys hardware and software products provide core network functions and services, including access from a range of radio networks to the operators packet core network. Starent Networks reported in 2007 $145.80million in total revenue with a Net Income of $11.47million and in 2008 Total Revenue of $254.08million with $60.52million. Shares of Starent Networks STAR traded after the announcement at $34.57 per share and at $29.75 per share the day before the announcement.

Those who currently are investors in shares of Starent Networks, Corp. (NasdaqGS: STAR), and purchased the shares before October 13, 2009, and / or have additional information relating to the investigation, should contact the Shareholders Foundation, Inc.