Shareholder Alert: Ademi & O'Reilly, LLP Investigates whether CoBiz Financial Inc. has obtained a Fair Price in its Sale to BOK Financial Corporation

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 [email protected] 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

SOURCE Ademi & O'Reilly, LLP