|By PR Newswire||
|January 9, 2014 12:37 PM EST||
NEW YORK, Jan. 9, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Riverbed Technology, Inc. ("Riverbed" or the "Company") (NASDAQ: RVBD) (ISIN: US7685731074) (CUSIP: 768573107) concerning the proposed acquisition of Riverbed by Elliott Associates LP.
The investigation concerns whether the Riverbed directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Riverbed shareholders will receive $19.00 per share in cash for each share of Riverbed common stock. However, the Price to Total Assets multiple is below the average of comparable transactions. In addition, at least one Analyst has set a target price of $20.00 per share for Riverbed stock.
Riverbed shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at [email protected] or 212-661-1100 or 888-476-6529, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
212-661-1100 ext. 237
SOURCE Pomerantz LLP
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