Rigrodsky & Long, P.A. Announces Investigation Of West Coast Bancorp Buyout

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of West Coast Bancorp (“West Coast” or the “Company”) (NASDAQ GS: WCBO) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Columbia Banking System, Inc. (“Columbia”) (NASDAQ GS: COLB) in a transaction valued at approximately $506 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/west-coast-bancorp-wcbo.

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.

The investigation concerns whether West Coast’s board of directors failed to adequately shop the Company and obtain the best possible value for West Coast’s shareholders before entering into an agreement with Columbia. According to Yahoo! Finance, at least one analyst has set a price target for West Coast stock at $24.00 per share.

If you own the common stock of West Coast and purchased your shares before September 26, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to info@rigrodskylong.com, or at: http://www.rigrodskylong.com/investigations/west-coast-bancorp-wcbo.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Copyright Business Wire 2010

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