TEWKSBURY - Starent Networks Corp., a maker of equipment for wireless networks, said yesterday it had agreed to settle a shareholder lawsuit over its pending acquisition by Cisco Systems Inc.
Tewksbury-based Starent has agreed to pay the plaintiff’s legal costs and provided some clarifications to the financial analysis that underpinned the board’s decision to accept Cisco’s offer of $2.9 billion. That deal was disclosed Oct. 13.
The lawsuit, which sought class-action status on behalf of Starent shareholders, was filed Oct. 20 by a union pension fund. It alleged that Starent’s board failed in its duty by accepting an offer price that was too low.
