Hedge Fund Giant Accuses Riverbed Of Misleading Investors

Paul Singer’s Elliott Management has turned up the heat with Riverbed Technology, Inc. (NASDAQ:RVBD), accusing the technology firm of misleading its investors.

Riverbed management and board have “crossed a line to actively misleading shareholders”

“By publicly denying the buyer interest that has been expressed to the Company and by comparing the value of Elliott’s bid to a false reality, Riverbed’s management and board have crossed a line from failing shareholders to actively misleading them as well,” Jesse Cohn, portfolio manager at Elliott, said in a regulatory filing.

Numerous parties are said to have contacted the Company to express interest in buying Riverbed, based on reports...