PACW - PACW Shareholders with Large Losses Should Contact Robbins LLP for Information About the Class Action Against PacWest Bancorp | Benzinga
SAN DIEGO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired PacWest Bancorp (NASDAQ:PACW) securities between February 28, 2022 and May 3, 2023. PacWest operates as a holding company for its wholly-owned subsidiary, Pacific Western Bank ("PWB"), a regional bank based in Los Angeles, California.
For more information, submit a form, email Aaron Dumas, Jr., or give us a call at (800) 350-6003.
What is this Case About: PacWest Bancorp (PACW) Misled Investors Regarding the Impact of Interest Rate Hikes on Pacific Western Bank
According to the complaint, during the class period, 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; ...