Ryan & Maniskas, LLP (
) is investigating potential claims against the board of directors of West Coast Bancorp (“West Coast” or the “Company”) (NASDAQ: WCBO) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell the Company to Columbia Banking System, Inc. in a transaction valued at approximately $506 million.
Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of West Coast. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
Under the terms of the proposal, public shareholders of West Coast will receive Columbia common stock, cash, or a combination of both stock and cash for each share of West Coast they own. The value received by West Coast shareholders on a per share basis will fluctuate based on Columbia's stock prices. Based on Columbia's closing stock price of $18.85 on September 25, 2012, West Coast shareholders would have received consideration valued at approximately $23.10 per share.
If you own shares of West Coast and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit:
. You may also email Mr. Maniskas at
. For more information about class action cases in general, please visit our website:
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.