SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Opus Bank (NasdaqGS - OPB)
BALA CYNWYD, PA / ACCESSWIRE / February 4, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Opus Bank ("Opus" or the "Company")(NasdaqGS-OPB) for possible breaches of fiduciary duty and other violations of federal and state law in connection with proposed acquisition of the Company by Pacific Premier Bancorp, Inc. ("Pacific Premier") (PPBI). Under the terms of the agreement, Opus shareholders will receive only 0.90 shares of Pacific Premier common stock for each share of Opus common stock they hold, for an implied value of $26.82 per Opus share.
The investigation concerns whether the Opus Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Pacific Premier is underpaying for the Company. Opus shareholders will only own approximately 37% of the combined company. Moreover, the deal price represents virtually no premium over the Company's trading price as recently as December 2019.
If you own shares of Opus stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/opus-bank-nasdaqgs-opb/, or calling toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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