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SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of PrivateBancorp, Inc. And Encourages Investors To Contact The Firm For Additional Information

June 29, 2016

SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of PrivateBancorp, Inc. And Encourages Investors To Contact The Firm For Additional Information

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of PrivateBancorp, Inc. (Nasdaq: PVTB) (“PrivateBancorp, Inc.” or the “Company”) relating to the proposed buyout of PrivateBancorp by Canadian Imperial Bank of Commerce (“CIBC”).

Under the terms of the agreement, PrivateBancorp shareholders are anticipated to receive $18.80 in cash and 0.3657 of a CIBC common share for each share of PrivateBancorp common stock held. Based on the June 28, 2016 closing price of CIBC’s common shares on the New York Stock Exchange, the total transaction value is approximately $47.00 of value per share of PrivateBancorp common stock at announcement.

The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock. The transaction may undervalue the Company and would result in no real gain or a loss for many long-term shareholders. According to Yahoo! Finance, at least one Wall Street analyst has issued a price target for PrivateBancorp stock at $49.00 per share.

If you currently own common stock of PrivateBancorp and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.