NEW YORK, April 10, 2017 /PRNewswire/ -- Wolf Popper LLP is investigating claims on behalf of investors in CU Bancorp (Nasdaq: CUNB), concerning the proposed acquisition of CU Bancorp by PacWest Bancorp. According to Carl Stine, who is a partner at Wolf Popper LLP, "Based on where CU Bancorp's stock price was trading at immediately prior to the announcement of the deal, it is clear that PacWest is low-balling CU Bancorp shareholders."
Under the terms of the proposed acquisition, CU Bancorp shareholders will receive 0.5308 shares of PacWest common stock and $12.00 in cash for each share of CU Bancorp. The proposed offer has a preliminary equity value of $705 million, or $39.45 per share. However, the proposed offer price is below CU Bancorp's closing price on April 5, 2017, and below the median analyst price target of $41.17 per share.
Wolf Popper is investigating claims on behalf of investors in CU Bancorp concerning the transaction. CU Bancorp's shareholders seeking more information about the transaction or Wolf Popper's investigation can contact Mr. Stine at (212) 759-4600 or firstname.lastname@example.org.
Wolf Popper has extensive experience representing investors in mergers and acquisition lawsuits and has successfully ensured that investors receive the maximum compensation. Twelve Wolf Popper attorneys were named Rising Stars or Super Lawyers in the 2016 Super Lawyers New York City Metro Edition, including Wolf Popper partner Carl Stine, who was included in the Super Lawyers Top 100 List for the New York City Metro area. View Wolf Popper attorney biographies at www.wolfpopper.com.
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SOURCE Wolf Popper LLP