SHAREHOLDER ALERT: Potential Recovery for PacWest Bancorp (PACW) Investors Affected by Stock Drop - Levi & Korsinsky Pursuing Class Action Lawsuit
News provided byACCESSWIRE
Sep 18, 2023, 12:30 PM ET
NEW YORK, NY / ACCESSWIRE / September 18, 2023 / If you suffered a loss on your PacWest Bancorp (NASDAQ:PACW) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information:
or contact Joseph E. Levi, Esq. via email at firstname.lastname@example.org or call (212) 363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: A class action securities lawsuit was filed against PacWest Bancorp that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between February 28, 2022 and May 3, 2023.
CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed 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.
WHAT'S NEXT? If you suffered a loss in PacWest stock during the relevant time frame - even if you still hold your shares - go to https://zlk.com/pslra-1/pacwest-lawsuit-submission-form?prid=48706&wire=1 to learn about your rights to seek a recovery. There is no cost or obligation to participate.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
SOURCE: Levi & Korsinsky, LLP
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