Kendall Law Group, led by former federal judge Joe Kendall, is investigating West Coast Bancorp (NASDAQ: WCBO) for shareholders in connection with the proposed acquisition by Columbia Banking System Inc. The national securities firm’s investigation seeks to determine whether West Coast Bancorp and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a West Coast Bancorp shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On September 26, 2012, the companies announced the definitive merger agreement under which West Coast Bancorp would be acquired by Columbia, in a transaction valued at approximately $506 million. Under the terms of the agreement, West Coast Bancorp stockholders can elect to receive either Columbia Banking System common stock (NASDAQ: COLB), cash, or a combination of both stock and cash for each share of West Coast Bancorp/WCBO common stock held. West Coast Bancorp stockholders would receive approximately $23.10 per share, a 14 percent premium to the stock's Tuesday closing price of $20.18. The firm’s investigation seeks to determine whether West Coast Bancorp and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.