PACW - Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against PacWest Bancorp (PACW) | Benzinga

LOS ANGELES, Sept. 25, 2023 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP ("GPM") reminds investors of the upcoming November 10, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired PacWest Bancorp ("PacWest" or the "Company") (NASDAQ:PACW, PACWP)) securities between February 28, 2022 and May 3, 2023, inclusive (the "Class Period").

If you suffered a loss on your PacWest investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/PacWest-Bancorp/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On May 3, 2023, Bloomberg published an article reporting that PacWest was "weighing strategic options including a sale" and that "[t]he sector has been under pressure as rising interest rates lowered the value of their longer-term investments while increasing the cost of funding and spurring depositors to move cash into higher-yielding money market funds." Forbes also reported that "[h]igher interest rates intensify the spread of the latest bank failure virus that drives deposits out ...

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