SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Security California Bancorp And Encourages Investors To Contact The Firm For Additional Information
Oct 03, 2015
OTC Disclosure News Service
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Security California Bancorp (OTC MKTS: SCAF) (“Security
California Bancorp” or the “Company”) relating to the proposed buyout of
the Company by Pacific Premier Bancorp, Inc.
Under the terms of the transaction, Security California Bancorp
shareholders are anticipated to receive 0.9629 shares of Pacific
Premier common stock for each share of Security California Bancorp stock
they own, a value of approximately $19.57 per share; options holders
will receive cash consideration. The firm’s investigation seeks to
determine, among other things, whether the Company’s Board of Directors
failed to satisfy their duties to shareholders, including whether the
Board adequately pursued alternatives to the acquisition and whether the
Board obtained the best price possible for the Company’s shares of
If you currently own common stock of Security California Bancorp and
believe that the proposed buyout price is too low, or you would like to
learn more about the investigation being conducted by Brower Piven,
please visit our website at http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either
by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s.
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