Levi & Korsinsky is investigating the Board of Directors of Pacific Capital Bancorp (“Pacific Capital” or the “Company”) (Nasdaq: PCBC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to UnionBanCal Corporation. Under the terms of the agreement, Pacific Capital shareholders will receive $46 for each share of Pacific Capital stock they own. The transaction has a total approximate value of $1.5 billion.
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The investigation concerns whether the Pacific Capital Board of Directors breached their fiduciary duties to Pacific Capital stockholders by failing to adequately shop the Company before entering into this transaction and whether UnionBanCal Corporation is underpaying for Pacific Capital shares, thus unlawfully harming Pacific Capital stockholders.
If you own common stock in Pacific Capital and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.