(Updated 2:25 p.m.) (Crain's) — PrivateBancorp Inc. has won a victory in federal court in Chicago, obtaining dismissal of a class-action lawsuit by pension-fund investors. The lawsuit accused the bank and its leaders of misleading investors about the true depth of its bad-loan woes as it raised hundreds of millions in new equity during the lead-up to the financial crisis and the ensuing recession. (Read Crain's premium content: "PrivateBank accused of risky lending practices." ) U.S. District Court Judge William Hart wrote in a Nov. 3 opinion that the plaintiffs hadn't provided enough evidence that the Chicago-based bank had acted improperly despite including assertions from nine former PrivateBancorp employees questioning the practices of its leadership.