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SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of City National Corporation And Encourages Investors To Contact The Firm For Additional Information
[January 23, 2015]

SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of City National Corporation 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 City National Corporation ("City National" or the "Company") (NYSE: CYN) relating to the proposed buyout of the Company by Royal Bank of Canada ("RBC").

On January 22, 2015, City National and RBC announced the signing of a merger agreement pursuant to which RBC will acquire City National in a transaction valued at approximately $5.4 billion. Under the terms of the transaction, City National shareholders are anticipated to receive $47.25 in cash and 0.7489 of an RBC common share for each share of City National common stock. Based on RBC's closing stock price on January 21, 2015, City National shareholders would have received consideraton valued at approximately $93.80 per share. The transaction is expected to close in the fourth calendar quarter of 2015, though City National shareholders will most likely be asked to vote on the transaction well before that time.



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.

If you currently own common stock of City National and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, 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 [email protected] 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.


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