Paul Singer’s Elliott Management has turned up the heat with Riverbed Technology, Inc. (NASDAQ:RVBD), accusing the technology firm of misleading its investors. Riverbed management and board have “crossed a line to actively misleading shareholders” “By publicly denying the buyer interest that has been expressed to the Company and by comparing the value of Elliott’s bid to a false reality, Riverbed’s management and board have crossed a line from failing shareholders to actively misleading them as well,” Jesse Cohn, portfolio manager at Elliott, said in a regulatory filing. Numerous parties are said to have contacted the Company to express interest in…
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- Riverbed management and board have "crossed a line to actively misleading shareholders"
- "Highly misleading statements in the face of a very real opportunity to maximize value for shareholders through a transaction"
- Riverbed CFO denies existence of "credible" offers in $25 range
- We're taking our time, says Riverbed
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