ATLANTA, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or “the Company”) (NASDAQ: PACW). The lawsuit alleges PacWest made false or misleading statements and/or omitted material adverse information regarding the Company’s business, operations, and prospects, including: (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; and (iii) as a result, PacWest was exceptionally vulnerable to excessive deposit flows and/or a liquidity crisis.
If you bought shares of PacWest between February 28, 2022 and May 3, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/pacwest/ to learn more.
The deadline to ask the court to be appointed lead plaintiff in the case is November 10, 2023.
Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021 and 2022, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, www.holzerlaw.com, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content.
CONTACT:
Corey Holzer, Esq.
(888) 508-6832 (toll-free)
cholzer@holzerlaw.com
