BALA CYNWYD, Pa., Jan. 23, 2015 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of City National Corporation ("City National" or "the Company") (NYSE-CYN-News) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Royal Bank of Canada ("Royal Bank").
Click here to learn more about the investigation http://brodsky-smith.com/879-cyn-city-national-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction, City National shareholders will only receive $47.25 in cash and 0.7489 of a Royal Bank common share for each share of City National stock they own. The investigation concerns whether the Board of City National breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, if conflicts of interest played a role in the transaction, and whether Royal Bank of Canada is underpaying for City National. The transaction may undervalue City National given that City National has a market-leading position in the entertainment industry and an emerging presence in the rapidly growing technology and health care segments. In addition, following the transaction City National's Chairman and CEO will remain as chairman and chief executive of City National and will also be responsible for Royal Bank's U.S. wealth-management unit.
If you own shares of City National common stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by e-mail at [email protected], by visiting http://brodsky-smith.com/879-cyn-city-national-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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