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SAN DIEGO--([ BUSINESS WIRE ])--Shareholder Rights Law Firm Johnson & Weaver, LLP announces that it is investigating whether certain officers and directors of Pacific Capital Bancorp (aPacific Capitala) (NASDAQ: PCBC) breached their fiduciary duty to current shareholders of Pacific Capital in connection with the proposed acquisition of the company by UnionBanCal Corp. (aUnionBanCala). The firmas investigation seeks to determine, among other things, whether the board failed to maximize shareholder value, failed to properly shop the company before agreeing to this transaction, or were unduly influenced by a majority shareholder of the company.

On March 9, 2012, Pacific Capital and UnionBanCal entered into a definitive agreement providing for UnionBanCal to acquire Pacific Capital for $1.5 billion. Under the terms of the merger agreement, Pacific Capital shareholders will receive $46.00 for each share of Pacific Capital common stock held. According to Bloomberg, the net income multiple for the proposed transaction is lower than the median multiple for comparable transactions. The transaction is expected to close in the fourth quarter of 2012.

Johnson & Weaver, LLP invites current Pacific Capital shareholders who are concerned about their legal rights and remedies to contact attorney Shawn Fields at (619) 230-0063 or [ shawnf@johnsonandweaver.com ].

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit [ http://www.johnsonandweaver.com ].