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Stock Market & Financial Investment News

News Breaks
March 4, 2014
10:45 EDTRVBDElliott says buyback shows Riverbed 'focused on the wrong issues'
Elliott Management issued a statement in response to Riverbedís announcement of an expanded stock repurchase program. Elliott said, "Riverbed's announcement today of an increased buyback program is more clear evidence of the Board's entrenchment. Riverbedís shareholders want and expect the Board to explore a value-maximizing sale, not to reflexively announce a buyback when the stock is up 35% on buyout speculation. Instead of engaging interested buyers, the Board has once again confirmed that it is focused on the wrong issues and desperately searching for any tactic that will allow it to retain control over a public Riverbed. The correct path forward is for the Board to allow all interested buyers, including Elliott, to conduct diligence so they can present shareholders with their best offers for the Company."
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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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