PACW INVESTOR NOTICE: ROSEN, GLOBAL INVESTOR COUNSEL, Encourages PacWest Bancorp Investors With Losses In Excess of $100K to Inquire About Securities Class Action Investigation - PACW
WHY: Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of PacWest Bancorp (NASDAQ: PACW) resulting from allegations that PacWest may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased PacWest securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=13000 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.
WHAT IS THIS ABOUT: On March 10, 2023, Business Insider reported that after Silicone Valley Bank's $1.8 billion loss, shares of PacWest have crashed. The Company has "exposure to the same type of venture capital clents that Silicon Valley Bank had. A sizeable amount of PacWest's lending portfolio is tied to real estate owned by venture capital firms."
On this news, PacWest's stock price fell $7.54 per share, or 37.91%, to close at $12.35 per share on March 10, 2023.
On March 13, 2023, PacWest's stock price dropped to $7.07 per share, or 42.7% in pre-market trading.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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