SAN DIEGO and SAN FRANCISCO, Feb. 13, 2015 (GLOBE NEWSWIRE) -- Shareholder rights law firm Robbins Arroyo LLP announces that it filed a class action lawsuit on February 5, 2015, in the U.S. District Court for the Northern District of California, San Francisco Division (the "Court"), on behalf of the shareholders of Riverbed Technology, Inc. ("Riverbed") (Nasdaq:RVBD) against Riverbed and its Board of Directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and Exchange Commission Rule 14a-9 promulgated thereunder.
Riverbed Is Accused of Disseminating a False and Misleading Proxy Statement
The complaint arises out of a December 15, 2014, press release announcing that Riverbed had entered into a definitive merger agreement with Thoma Bravo, LLC and Teachers' Private Capital pursuant to which Riverbed shareholders would receive $21 per share in cash (the "Proposed Transaction"). The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated shareholders of Riverbed (the "Class"). The named plaintiff is represented by Robbins Arroyo LLP.
The complaint alleges that, in an attempt to secure shareholder approval of the Proposed Transaction, the defendants filed a materially false and misleading Definitive Proxy Statement with the U.S. Securities and Exchange Commission in violation of the Exchange Act. The omitted and/or misrepresented information is believed to be material to Riverbed shareholders' ability to make an informed decision whether to approve the Proposed Transaction.
If you purchased or otherwise acquired Riverbed stock prior to the announcement of the Proposed Transaction on December 15, 2014, and wish to serve as lead plaintiff, you must move the Court no later than sixty days from February 13, 2015. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact attorney Darnell R. Donahue of Robbins Arroyo LLP at 800-350-6003, via the shareholder information form on our website, or by e-mail at info@robbinsarroyo.com. Any member of the Class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent Class member.
Robbins Arroyo LLP, a nationally recognized leader in the area of shareholder rights litigation, represents individual and institutional investors in securities class action lawsuits and shareholder derivative actions. Robbins Arroyo LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Past results do not guarantee similar outcomes. For more information about the firm, please go to http://www.robbinsarroyo.com.
Press release link: www.robbinsarroyo.com/shareholders-rights-blog/riverbed-technology-inc