PRIVATEBANCORP, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
Rigrodsky & Long, P.A.:
-
Do you own shares of PrivateBancorp, Inc. (NASDAQ GS: PVTB)?
- Did you purchase any of your shares prior to June 28, 2016?
- Do you think the proposed buyout value is too low?
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Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of
directors of PrivateBancorp, Inc. (“PrivateBancorp” or the “Company”) (NASDAQ GS: PVTB) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry
into an agreement to be acquired by Canadian Imperial Bank of Commerce (“CIBC”) (NYSE: CM), in a transaction valued at approximately $3.8 billion.
Click here to learn more: http://rigrodskylong.com/investigations/privatebancorp-inc-pvtb.
Under the terms of the agreement, shareholders of PrivateBancorp will receive $18.80 in cash and 0.3657 of a share of CIBC for
each share of PrivateBancorp they own. Based on CIBC’s closing stock price on June 28, 2016, PrivateBancorp shareholders would
have received compensation valued at approximately $47.00 per share.
The investigation concerns whether PrivateBancorp’s board of directors failed to adequately shop the Company and obtain the best
possible value for PrivateBancorp shareholders before entering into an agreement with CIBC. According to Yahoo! Finance, at
least one analyst has issued a price target for PrivateBancorp stock at $49.00 per share.
If you own the common stock of PrivateBancorp and purchased your shares before June 29, 2016, if you have information or would
like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement
or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky &
Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://rigrodskylong.com/investigations/privatebancorp-inc-pvtb.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance
litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
888-969-4242
302-295-5310
Fax: 302-654-7530
info@rl-legal.com
http://www.rigrodskylong.com
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