Elliott: Riverbed Technology's Board Has 'Failed Shareholders'

Riverbed Technology, Inc. (NASDAQ:RVBD) spurned Elliott Management’s offer to buy all of its outstanding shares for $21 apiece in cash, and Elliott already has a response for the company. The firm says Riverbed’s board of directors has failed the company’s shareholders—again. Elliott raised bid for Riverbed This week, Elliott Management increased its bid for Riverbed Technology, Inc. (NASDAQ:RVBD) from $19 a share, which Riverbed also rejected. After that first rejection, Elliott continued to discuss buyout options and speak with shareholders, but apparently, it didn’t do much good. Here’s the statement released by Elliott: “Riverbed’s Board has again failed shareholders. By…