Learning Center
Plans & pricing Sign in
Sign Out

The Law Office of Robbins Umeda LLP Announces an Investigation of PrivateBancorp, Inc


SAN DIEGO--(EON: Enhanced Online News)--The Law Office of Robbins Umeda LLP Announces an Investigation of PrivateBancorp, Inc. <a style='font-size: 10px; color: maroon;' hr

More Info
									The Law Office of Robbins Umeda LLP
Announces an Investigation of PrivateBancorp,
October 26, 2010 01:56 PM Eastern Daylight Time  

SAN DIEGO--(EON: Enhanced Online News)--Robbins Umeda LLP has commenced an investigation into
possible breaches of fiduciary duty and other violations of the law by certain officers and directors at
PrivateBancorp, Inc. ("PrivateBancorp" or the "Company") (NASDAQ: PVTB). 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. PrivateBancorp
was founded in 1989 and is headquartered in Chicago, Illinois.

Robbins Umeda LLP's investigation concerns whether the Company's directors and officers damaged
PrivateBancorp by causing or allowing it to issue improper statements regarding the Company's business and
financial results. Specifically, our investigation concerns whether certain of PrivateBancorp's directors and officers
misrepresented the quality of the Company's loan portfolio generated by the Strategic Growth and Transformation
Plan ("Growth Plan") in order to achieve certain financial targets, including lucrative incentive awards for its

On October 26, 2009, prior to the start of trading, the Company shocked investors by reporting third quarter 2009
earnings results that fell far short of expectations. Additionally, PrivateBancorp disclosed that its elevated levels of
nonperforming loans were originated under the Growth Plan. Upon this news, PrivateBancorp's value fell
approximately 37%, or $7.00 per share, from a closing price of $18.94 per share on October 23, 2009, to a closing
price of $11.94 per share on October 26, 2009.

If you are a shareholder of PrivateBancorp, plan to continue to hold your shares, and would like more information
about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at

Robbins Umeda LLP is a securities litigation firm, which has significant experience representing investors in
shareholder derivative actions, securities fraud class actions, and merger-related shareholder class actions. For more
information about the firm, please go to


Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003


To top