MILWAUKEE, June 18, 2018 /PRNewswire/ -- Ademi &
O'Reilly, LLP is investigating the Board of Directors of CoBiz
Financial Inc. (NASDAQ: COBZ) for possible breaches of fiduciary
duty and other violations of Colorado law in connection with the sale of
CoBiz to BOK.
Click here to learn how to join the action:
http://ademilaw.com/case/cobiz or call Guri
Ademi toll-free at 866-264-3995. There is no cost or
obligation to you.
Ademi & O'Reilly, LLP alleges CoBiz's long-term financial
outlook is improving and yet CoBiz shareholders will receive only
0.17 shares of BOK Financial common stock and $5.70 in cash for each share of CoBiz common
stock. The merger consideration is valued at $23.02 per share, based on the closing price of
BOK on June 15, 2018. BOK is
well aware of CoBiz's improving financial metrics and is purchasing
CoBiz at a substantial discount. The merger agreement
unreasonably limits competing bids for CoBiz by (i) prohibiting
solicitation of any further bids, and (ii) imposing a termination
penalty should CoBiz receive and accept a superior bid. CoBiz
insiders, their affiliates and other major shareholders own
significant voting stock, and will receive millions of dollars as
part of change of control arrangements, and therefore can unduly
influence a sale of CoBiz. Our investigation centers on the conduct
of CoBiz's Board of Directors, who have unanimously approved the
transaction, and whether they are (i) fulfilling their fiduciary
duties to all shareholders, and (ii) obtaining a fair and
reasonable price for CoBiz given its current financial condition
and prospects.
If you own common stock in CoBiz and wish to obtain additional
information, please contact Guri
Ademi either at gademi@ademilaw.com or toll-free:
866-264-3995, or http://ademilaw.com/case/cobiz.
We specialize in shareholder litigation involving buyouts,
mergers, and individual shareholder rights throughout the country.
For more information, please feel free to call us. Attorney
advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi & O'Reilly, LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
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SOURCE Ademi & O'Reilly, LLP