Market Overview

Glancy Binkow & Goldberg LLP Announces Investigation of Pacific Capital Bancorp

LOS ANGELES--(BUSINESS WIRE)--

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Pacific Capital Bancorp (“Pacific Capital” or the “Company”) (NASDAQ: PCBC) related to the proposed acquisition of the Company by UnionBanCal Corporation. The transaction is valued at approximately $1.5 billion or $46.00 per share.

The investigation concerns whether the Board of Directors of Pacific Capital breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $23.40 on November 25, 2011 to $28.69 on March 9, 2012.

If you are a shareholder of Pacific Capital, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Glancy Binkow & Goldberg LLP
Louis Boyarsky, Esquire
(310) 201-9150 or Toll Free at (888) 773-9224
shareholders@glancylaw.com

 

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