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Stock Market & Financial Investment News

News Breaks
January 14, 2014
08:46 EDTRVBDRiverbed holder Elliott urges engagement with Elliott, other interested buyers
Elliott Management Corporation, affiliates of which collectively own or have economic exposure to approximately 10.5% of the common stock and equivalents of Riverbed Technology, disclosed it sent a letter to the Board of Directors of Riverbed Technology reporting that Elliott has received "overwhelmingly supportive feedback from shareholders and equity analysts for the idea that Riverbed should fully explore Elliottís offer to acquire Riverbed, as well as the other acquisition interest that exists." Elliott added: "After speaking with a majority of Riverbedís shareholder base, the feedback highlights the following: Riverbed shareholders and equity analysts are strongly in favor of Riverbed initiating a process to explore the significant acquisition interest that exists from all parties, including Elliott; Riverbed is an excellent candidate for acquisition; shareholders and equity analysts were skeptical of Riverbedís ability to execute should Riverbed choose not to explore a sale and believed the stock would return to the $14-$15 range in such a scenario."
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September 17, 2014
11:47 EDTRVBDRiverbed's Scott Downie departs company to join Illumio, Re/code says
Scott Downie, who has run Riverbed's customer support operations for nearly nine years, has left the company to join security startup Illumio, Re/code reports. Reference Link
September 12, 2014
20:39 EDTRVBDRiverbed announces developments in litigation with Silver Peak
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20:35 EDTRVBDJudge upholds infringement verdict against Riverbed in favor of Silver Peak
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September 10, 2014
12:42 EDTRVBDElliott says $21/share Riverbed offer stands, board not working with holders
Elliott Management issued a public statement regarding Riverbed Technology, stating in part: ďRiverbedís announcement today sends a clear message to shareholders: We donít care what you think...Going against every modern principle of shareholder engagement and good corporate governance, Riverbedís Board has decided to ignore the wishes of shareholders on every count. The Board didnít just ignore the larger message to stop entrenching and engage. It even decided to keep the Board member that was voted off, failed to articulate any meaningful changes to the compensation plan, and chose to keep its poison pill. Above all, the Board continues to ignore serious acquisition interest even after the company publicly admitted that it will miss its ď10% growth planĒ by a wide margin...We have tried to engage with this Board, and our cash offer of $21 per share for Riverbed still stands. However, the Boardís decision today indicates that these directors are simply not interested in working with shareholders constructively. As one of the companyís largest shareholders, we intend to remain fully engaged, and we will continue to work toward a value-maximizing outcome.Ē
12:39 EDTRVBDElliott says $21 per share offer for Riverbed still stands
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12:39 EDTRVBDElliott says Riverbed board not interested in working with shareholders
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08:33 EDTRVBDRiverbed affirms commitment to corporate governance enhancements
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08:31 EDTRVBDRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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