Business & Finance
Mon, October 1, 2012
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of West Coast Bancorp (aWest Coasta or the aCompanya) (NasdaqGS: WCBO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Columbia Banking Systems, Inc. (NasdaqGS: COLB).
Click here to learn more about the investigation: [ http://zlk.9nl.com/west-coast-bancorp-wcbo ], or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, West Coast shareholders may elect to receive either Columbia stock, cash, or a combination of cash and stock. Based on recent closing prices, West Coast shareholders would receive approximately $23.10 per share. The transaction has a total approximate value of $506 million. The investigation concerns whether the West Coast Board of Directors breached their fiduciary duties to West Coast stockholders by failing to adequately shop the Company before entering into this transaction and whether Columbia Banking Systems, Inc. is underpaying for West Coast shares, thus unlawfully harming West Coast stockholders. In particular, at least one analyst set a price target for West Coast stock at $24.00 per share.
If you own common stock in West Coast and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://zlk.9nl.com/west-coast-bancorp-wcbo ].
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
