NEW YORK, Jan. 23, 2015 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of City National Corporation ("City National" or "the Company") (NYSE: CYN) 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 action: http://zlk.9nl.com/city-national-cyn.
Under the terms of the transaction, City National shareholders will 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, and whether Royal Bank is underpaying for City National shares.
If you own City National common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/city-national-cyn.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut 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 and shareholder lawsuits. 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 Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
SOURCE Levi & Korsinsky, LLP