PACW - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against PacWest DigitalOcean and Integra and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 17, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of PacWest Bancorp (NASDAQ:PACW), DigitalOcean Holdings, Inc. (NYSE:DOCN), and Integra LifeSciences Holdings Corp. (NASDAQ:IART). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
PacWest Bancorp (NASDAQ:PACW)
Class Period: February 28, 2022 - May 3, 2023
Lead Plaintiff Deadline: November 10, 2023
Throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) PacWest had understated the impact of interest rate hikes on 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.
For more information on the PacWest class action go to: https://bespc.com/cases/PACW
DigitalOcean Holdings, Inc. (NYSE:DOCN)
Class Period: February 16, 2023 - August 25, 2023
Lead Plaintiff Deadline: November 13, 2023
After the market closed on August 3, 2023, DigitalOcean Holdings announced quarterly financial results and disclosed that the Company's previously issued financial statements for the period ending March 31, 2023 should no longer be relied on due to accounting errors that resulted in an overstatement of the Company's income tax expense in the quarter of approximately $18 million. As a result of the errors, the Company would be restating its first quarter 2023 financials and announced that the restatement would "also include disclosure of an identified material weakness and that our disclosure controls and procedures were not effective as of March 31, 2023."
On this news, DigitalOcean's stock price dropped approximately 24.8% in intraday trading the following day on August 4, ...