From the Wires
Law Office of Brodsky & Smith, LLC Announces Investigation of First California Financial Group, Inc.
By: PR Newswire
Nov. 7, 2012 10:35 PM
BALA CYNWYD, Pa., Nov. 7, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of First California Financial Group, Inc. ("FCAL" or the "Company") (Nasdaq- FCAL-News) relating to the proposed acquisition by PacWest Bancorp. ("PacWest").
Under the terms of the transaction, FCAL shareholders will receive only $8.00 in PacWest stock for each share of FCAL stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of FCAL for not acting in the Company's shareholders' best interests in connection with the sale process to PacWest. The transaction may undervalue the Company and will not result in any substantial gain for many FCAL shareholders as FCAL stock traded at $7.15 on August 20, 2012.
If you own shares of FCAL stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/500-fcal-first-california-financial-group-inc.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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