NEW YORK, April 9, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the board of directors of Opus Bank
("OPB" or the "Company") (NASDAQ: OPB) in connection with the
proposed acquisition of OPB by Pacific Premier Bancorp, Inc.
("PPBI") (NASDAQ: PPBI). Under the terms of the acquisition
agreement, holders of OPB common stock will receive 0.90 shares of
PPBI common stock for each share of OPB that they own, representing
implied per-share merger consideration of $16.27 based on PPBI's April 8, 2020 closing price of $18.08.
If you own OPB shares and wish to discuss this investigation
or have any questions concerning this notice or your rights or
interests, visit our website:
http://www.weisslawllp.com/opus-bank/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether OPB's board of directors acted
to maximize shareholder value prior to entering into the
acquisition agreement. Notably, at least one analyst set a
target price for OPB of $33.00 per
share, more than twice the implied per-share merger
consideration.
Given these facts, WeissLaw is concerned whether the proposed
acquisition agreement undervalues the Company, whether OPB's board
ran a fair process, and whether all material information related to
the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP