Daily News: March 10, 2014

WSJ: Judge Finds RBC Liable for Role in Advising Rural/Metro

The Wall Street Journal reported RBC Capital Markets was found liable by a Delaware judge for its role in advising Rural/Metro on its 2011 takeover by private-equity firm Warburg Pincus.

According to the Journal , the judge said RBC’s thirst for financing fees from the buyer, and its failure to disclose those motives to the seller’s board tainted its advice, leading Rural/Metro’s directors to accept a bid that undervalued it.

To read the entire Journal article, click here.