Cartica Responds to CorpBanca Latest Statements in Its Confusion Campaign to Defraud Minority Shareholders

  Cartica Responds to CorpBanca Latest Statements in Its Confusion Campaign to
  Defraud Minority Shareholders

Business Wire

WASHINGTON -- June 13, 2014

Cartica Capital today made the following statement:

“CorpBanca - the bank whose controlling shareholder, Alvaro Saieh, recently
admitted withholding required material disclosures from investors for 5 years
- continues to attempt to confuse the market and change the subject whenever
the subject is its Board’s failures to ensure that all CorpBanca shareholders
are treated equally.

“Cartica’s goal in bringing our lawsuit always has been to enjoin the
fraudulent transaction so that a new one can be structured on terms that treat
all shareholders equally. Similarly, the disclosures we seek also benefit all
CorpBanca shareholders. For CorpBanca to attempt to characterize our damages
claim, to which any holder of CorpBanca ADRs who receives fraudulent
information is entitled, as a ‘special payment’ is shameless.

“CorpBanca likewise is shameless to take credit for being forced to provide
incomplete and late disclosures only in response to our lawsuit. Yet Saieh,
CorpBanca and Itau still have failed to file a 13D disclosing that they hold
CorpBanca shares in order to act as a group to effect a change of control.
Likewise, CorpBanca’s misinformation campaign sinks to new depths by
simultaneously both affirming that neither CorpBanca nor CorpGroup provided
any material non-public information to Cartica, and then turning around and
criticizing Cartica for purchasing additional shares in CorpBanca. In fact, as
we have said before, Cartica has never sold a single share of CorpBanca stock,
and Cartica acquired more than 80% of its position in CorpBanca before the
bank announced that it had hired Goldman Sachs to explore strategic
alternatives.

“Cartica will continue to pursue a fair transaction for all CorpBanca
shareholders through U.S. federal courts, which enforce the securities laws to
which CorpBanca chose to be subject when it listed ADRs, and through Chilean
regulators. Moreover, as CorpBanca and CorpGroup well know, we will bring
legal action in Chilean courts at the appropriate time.”

About Cartica Management, LLC

Cartica Management, LLC is an alternative asset manager focused exclusively on
Emerging Markets. The core of Cartica’s team worked together in senior
leadership positions at the World Bank Group’s International Finance
Corporation. With assets under management in excess of US$2 billion, Cartica’s
institutional client base includes pension funds, endowments, and other
international investors.

Cartica is headquartered in Washington, DC and is registered as an investment
adviser with the United States Securities and Exchange Commission. For more
information please refer to: http://www.carticacapital.com

Contact:

Kekst and Company
Margaret Rohrmann (for English / para Español)
Adam Weiner (for English)
212-521-4800
 
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