SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of PacWest Bancorp of a Class Action Lawsuit and a Lead Plaintiff Deadline of November 13, 2023 – (NASDAQ: PACW)
News provided byThe Gross Law Firm
Sep 18, 2023, 12:35 PM ET
NEW YORK, Sept. 18, 2023 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of PacWest Bancorp.
Shareholders who purchased shares of PACW during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: February 28, 2022 to May 3, 2023
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) PacWest had understated the impact of interest rate hikes on Pacific Western Bank (“PWB”), a smaller bank with excessive concentration in specific industries; (ii) accordingly, the Company had overstated the stability and/or sustainability of its deposit base; (iii) as a result, PacWest was exceptionally vulnerable to excessive deposit flows and/or a liquidity crisis; and (iv) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
DEADLINE: November 13, 2023 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/pacwest-loss-submission-form/?id=48312&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of PACW during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is November 13, 2023. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (646) 453-8903
NOTE: This content is not written by or endorsed by "WPRI", its advertisers, or Nexstar Media Inc.