MILWAUKEE, Dec. 15, 2014 (GLOBE NEWSWIRE) -- We are investigating the Board of Directors of Riverbed for possible breaches of fiduciary duty and other violations of state law in connection with the sale of Riverbed to The Investor Group.
Click here to learn how to join the action: http://www.ademilaw.com/case/riverbed or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Riverbed's long-term financial outlook is very positive and yet shareholders will receive $21.00 in cash. The Investor Group is well aware of Riverbed's improving financial metrics and is purchasing Riverbed at a substantial discount. The purchase agreement unreasonably limits prospective bids by (i) prohibiting solicitation of any further bids, and (ii) imposing a termination penalty should Riverbed receive and accept a superior bid. Riverbed's insiders and their affiliates own significant stock, and will receive millions of dollars as part of change of control arrangements. Many will remain employed by the Investor Group after the acquisition. These insiders can unduly influence a sale of Riverbed not necessarily in the best interests of non-insider shareholders. In light of these facts, our investigation centers on the conduct of Riverbed's Board of Directors, who have unanimously approved the transaction, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Riverbed given its current financial condition and prospects.
If you own shares of Riverbed and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://www.ademilaw.com/case/riverbed.
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