WeissLaw LLP, a national class action and shareholder rights law firm
with offices in New York City and Los Angeles, is investigating possible
breaches of fiduciary duty and other violations of law by the Board of
Directors of First California Financial Group, Inc. (NASDAQ: FCAL)
arising from its agreement for First California to be acquired by
PacWest Bancorp (NASDAQ: PACW), in a stock-for-stock deal valued at
approximately $231 million based on First California's closing stock
price on November 6, 2012. The proposed transaction values First
California at $8.00 a share.
WeissLaw LLP is investigating whether First California's Board is acting
to maximize shareholder value for First California's public shareholders
in approving this deal and whether the Board engaged in a robust sale
process in shopping the company. For the third quarter 2012, First
California reported net income of $3.5 millin, compared with $2.5
million for the same quarter in 2011. Additionally, net income available
to common shareholders was $3.2 million, or $0.11 per diluted share,
compared with $900,000, or $0.03 per diluted share, for the third
quarter 2011. If you own First California shares and would like more
information about your rights as a shareholder or additional information
concerning our investigation, please contact Michael A. Rogovin either
by email at email@example.com
or by telephone at (888) 593-4771.
WeissLaw LLP has litigated hundreds of stockholder class and derivative
actions for violations of corporate and fiduciary duties. We have
recovered over a billion dollars for defrauded institutions and
individuals and obtained important corporate governance in these cases.
If you have information or would like legal advice concerning possible
corporate wrongdoing (including insider trading, waste of corporate
assets, accounting fraud, or issuing materially misleading information),
consumer fraud (including false advertising, defective products, or
other deceptive business practices), or anti-trust violations, please
email us at firstname.lastname@example.org
or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
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