SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Commencement of a Class Action Challenging the Sale of PrivateBancorp, Inc. to Canadian Imperial Bank of Commerce -- PVTB
NEW YORK, July 08, 2016 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased PrivateBancorp, Inc. (NASDAQ:PVTB) stock prior to June 29, 2016.
You are hereby notified that a class action has been commenced in Illinois state court challenging the fairness of the sale of PrivateBancorp to Canadian Imperial Bank of Commerce (NYSE:CM) (“CIBC”) for US$18.80 in cash and 0.3657 of a CIBC share for each PrivateBancorp share. Based on the closing price of CIBC on the last business day prior to the merger announcement, this represents an approximate value of US$47.00 for each PrivateBancorp share. To learn more about the action and your rights, go to:
http://zlk.9nl.com/privatebancorp
or contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP Joseph E. Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
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