An investigation on behalf of investors in PacWest Bancorp (NASDAQ:PACW) shares over potential wrongdoing at PacWest Bancorp was announced.
San Diego, CA -- (SBWIRE) -- 05/31/2023 -- Certain directors of PacWest Bancorp are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of PacWest Bancorp (NASDAQ: PACW) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain PacWest Bancorp directors breached their fiduciary duties and caused damage to the company and its shareholders.
Beverly Hills, CA based PacWest Bancorp operates as the bank holding company for Pacific Western Bank that provides various banking products and services.
On March 10, 2023, Insider published an article entitled "First Republic and PacWest Bancorp plunge as fears of contagion grow following the biggest bank failure since 2008" which stated, among other things, that PacWest "ha[s] exposure to the same type of venture capital clients that Silicon Valley Bank had. A sizeable amount of PacWest's lending portfolio is tied to real estate owned by venture capital firms."
Shares of PacWest Bancorp (NASDAQ: PACW) declined to $5.00 per share on March 13, 2023.
Those who purchased shares of PacWest Bancorp (NASDAQ: PACW) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.