NEW ORLEANS, Jan. 30, 2015 /PRNewswire/ -- Former Attorney
General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of
Kahn Swick & Foti, LLC ("KSF") are investigating the proposed
sale of City National Corporation ("City National" or the
"Company") (NYSE: CYN) to Royal Bank of Canada ("RBC") (NYSE: RY). Under the terms of
the proposed transaction, shareholders of City National will
receive only, on average, approximately, $47.25 in cash and 0.7489 shares of RBC common
stock, subject to elections, adjustments, and limitations, for each
share of City National common stock that they own. Based on the
closing price on the New York Stock Exchange of RBC's common shares
on January 21, 2015, the total
transaction value is approximately $93.80 of value per share of City National common
stock. KSF is seeking to determine whether this consideration and
the process that led to it are adequate, or whether the
consideration undervalues the Company.
If you believe that this transaction undervalues the Company
and/or if you would like to discuss your legal rights regarding the
proposed sale, you may, without obligation or cost to you, e-mail
or call KSF Managing Partner Lewis S. Kahn
(lewis.kahn@ksfcounsel.com) or associate Michael J. Palestina
(michael.palestina@ksfcounsel.com) toll free at any time at
855-768-1857.
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447
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visit:http://www.prnewswire.com/news-releases/city-national-corp-investor-alert-by-the-former-attorney-general-of-louisiana-kahn-swick--foti-llc-investigates-adequacy-of-price-and-process-in-proposed-sale-of-city-national-corporation-300028714.html
SOURCE Kahn Swick & Foti, LLC