NEW YORK, March 22, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Pacific Mercantile Bancorp (NASDAQ: PMBC) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Banc of California, Inc. (NYSE: BANC).
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On March 22, 2021, Pacific Mercantile announced that it had signed an agreement to be acquired by Banc of California for approximately $235 million. Pursuant to the merger agreement, Pacific Mercantile stockholders will receive 0.5 shares of Banc of California common stock for each share of Pacific Mercantile common stock owned. The deal is scheduled to close in the third quarter of 2021.
Bragar Eagel & Squire is concerned that Pacific Mercantile’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Pacific Mercantile’s stockholders.
If you own shares of Pacific Mercantile and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form . There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com
