Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of First California Financial Group, Inc. (“First California”) (Nasdaq: FCAL) to PacWest Bancorp for shareholders. Under the proposed sale, First California shareholders will only receive PacWest common stock valued at $8.00 for each share of First California common stock owned in a deal valued at approximately $231 million.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The First California sale investigation centers on whether First California shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues First California stock, and whether First California’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that “we believe that the transaction may undervalue First California stock. Our lawsuit will seek to obtain the highest possible share price for all shareholders.”
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.