SQUARE 1 FINANCIAL, INC. INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Square 1 Financial, Inc. Over the Proposed Sale of the Company to PacWest Bancorp - SQBK
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Square 1 Financial, Inc. (“Square 1” or the “Company”) (NASDAQ: SQBK) for potential breaches of fiduciary duties in connection with the sale of the Company to PacWest Bancorp (“PacWest”) (NASDAQ: PACW) for approximately $849 million in an all-stock transaction. The Company’s stockholders will receive 0.5997 shares for each share of Square 1 common stock they own, which equates to $27.49 per share based on PacWest’s Friday close.
The investigation focuses on whether Square 1’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Square 1’s shareholders.
If you own common stock in Square 1 and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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