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City National Corp. (CYN)

(NYSE: CYN)

Summary

CITY NATIONAL CORP. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of City National Corp. (CYN) Over the Proposed Sale of the Company to Royal Bank of Canada (RY)
 

Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of City National Corp. (“City National” or the “Company”) (NYSE: CYN) for potential breaches of fiduciary duties in connection with the sale of the Company to Royal Bank of Canada (TSX: RY) for approximately $5.4 billion in a cash and stock transaction.  The Company’s stockholders will only receive $47.25 in cash and 0.7489 of a share of Royal Bank for each share of City National common stock they own, a total value of $93.80 per share.

The investigation focuses on whether City National’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of City National’s shareholders.

If you own common stock in City National and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

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  • Company:
    City National Corp. (CYN)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 01/22/2015

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