SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Pacific Premier Bancorp, Inc. (Nasdaq – PPBI)
BALA CYNWYD – April 24, 2025/Globe Newswire/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Pacific Premier Bancorp, Inc. (“Pacific Premier” or the “Company”) (Nasdaq – PPBI) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Columbia Banking System, Inc. (“Columbia”) (Nasdaq – COLB). Under the terms of the all-stock transaction, Pacific Premier stockholders will receive 0.9150 of a share of Columbia common stock for each Pacific Premier share they own. The merger is valued at approximately $2.0 billion, or $20.83 per Pacific Premier share, based on Columbia’s closing stock price of $22.77 on April 22, 2025. Following closing, Pacific Premier stockholders will own approximately 30% of Columbia’s outstanding shares of common stock.
The investigation concerns whether the Pacific Premier Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the Company’s shareholders are receiving fair value for their shares. For example, the deal consideration is below the 52-week high of $30.28 for the Company’s shares.
If you own shares of Pacific Premier 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 who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, or call toll free 855-576-4847.
Brodsky & Smith 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.