Business & Finance
Business and Finance
Business and Finance
Fri, January 28, 2011
Thu, January 27, 2011 Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of PrivateBancorp, Inc.
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against PrivateBancorp, Inc. (aPrivateBancorpa or the aCompanya) (NASDAQ:PVTB) concerning possible violations of federal securities laws or breaches of fiduciary duties by the Company or its fiduciaries. PrivateBancorp, through its subsidiaries, provides various business and personal financial services to middle-market commercial and commercial real estate companies, business owners, executives, entrepreneurs and families in the United States.
The investigation concerns allegations that certain statements issued by the Company between November 2, 2007 and October 23, 2009 concerning PrivateBancorpa™s business, prospects and financial performance were materially false and/or misleading. Although it had written off more than $100 million in bad loans in January 2009, on October 26, 2009, PrivateBancorp announced disappointing financial results for third quarter 2009 and that the Company still held approximately $400 million in non-performing loans.
If you purchased PrivateBancorp securities prior to or after November 2007, and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].
