(Adds details and that RBC spokeswoman declined immediate comment)
Aug 31 (Reuters) - A Royal Bank of Canada RY.TO unit has agreed to pay $2.5 million for causing false and misleading disclosures in a proxy statement for the sale of ambulance company Rural/Metro Corp, the U.S. Securities and Exchange Commission said on Wednesday.
RBC Capital Markets LCC, in settling the case, neither admitted nor denied the allegations, the SEC said.
An RBC spokeswoman declined to immediately comment.
RBC was the lead financial adviser to Rural/Metro and received a $500,000 fee for an opinion it presented to the ambulance company's board in 2011, which was considering the company's sale to a private equity firm.
An SEC investigation found that RBC's presentation included "materially false and misleading statements," making the bid look more attractive. The presentation also caused the information to be included in a proxy statement filed by Rural/Metro in May 2011 to solicit shareholder approval for the sale, the SEC said.