NEW YORK, March 12, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Pacific Capital Bancorp ("Pacific Capital" or the "Company") (NASDAQ: PCBC) concerning the proposed acquisition of the Company by UnionBanCal in a transaction valued at approximately $1.5 billion.
On March 12, 2012, it was announced that Pacific Capital and UnionBanCal have entered into a definitive agreement pursuant to which UnionBanCal will acquire Pacific Capital. Under the agreement, Pacific Capital shareholders will receive $46.00 per share held.
Our investigation concerns whether the board of directors is fulfilling its fiduciary duties, maximizing the value of Pacific Capital, disclosing all material benefits and costs and obtaining full and fair consideration for Pacific Capital shareholders.
If you own Pacific Capital shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq. Benjamin Sachs-Michaels Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: [email protected] Website: http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.