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Stock Market & Financial Investment News

News Breaks
February 28, 2013
08:27 EDTPKTProcera Networks sees FY13 revenue growth 25%-30%, consensus $82.35M
Expects to gain market share in 2013 and sees that most of revenue growth to occur in 2H13. Its operating expenses in 2013 are also expected to increase, beginning in 2013. The company may incur operating losses in 1H13 and expect operating profits in 2H13.
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October 28, 2014
06:15 EDTPKTCastle Union reports 5.0% active stake in Procera Networks
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October 20, 2014
12:39 EDTPKTProcera Networks activist calls for board to evaluate strategic alternatives
Ronald Chez of Merriman Capital sent an open letter to the board of Procera Networks criticizing their lack of execution and failure to deliver on their strategy. Chez said, "I believe it is essential, and consistent with the board's fiduciary duties to Procera shareholders, that the board evaluate all strategic alternatives, including the retention of an investment bank to help guide the process. I have spoken to several shareholders and investment bankers. I intend to actively pursue further discussions with additional shareholders and interested parties. At the earliest possible convenience, I would also like to meet with the board, to discuss the immediate need to change direction." Shares of Procera are up 5.5% to $7.00 following the letter.

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