Thursday, November 26, 2009

Starent Settles Shareholder Class Action Lawsuit

Starent Networks and the other named defendants reached a settlement in a shareholder class lawsuit n connection with the proposed acquisition of Starent Networks by Cisco Systems.


If the court approves the settlement contemplated in the memorandum, the lawsuit will be dismissed with prejudice. Starent Networks and the other defendants deny all of the allegations in the lawsuit and believe the disclosures are appropriate under the law. Nevertheless, Starent Networks and the other defendants have agreed to settle the putative class action lawsuit in order to avoid costly litigation and reduce the risk of any delay to the closing of the merger.


Pursuant to the terms of the memorandum, Starent Networks has agreed to provide additional information to stockholders through publicly available filings in order to supplement the proxy statement that has been provided to Starent Networks' stockholders in connection with the special meeting of stockholders concerning the proposed merger.
http://www.starentnetworks.com

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