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If you suffered losses in PacWest Bancorp stock contact PacWest Bancorp stock loss lawyer Timothy L. Miles about a PacWest Bancorp class action lawsuit
The PacWest Bancorp class action lawsuit seeks to represent purchasers or acquirers of PacWest Bancorp (NASDAQ: PACW) securities between February 28, 2022 and May 3, 2023, inclusive (the “Class Period”). Captioned Tan v. PacWest Bancorp, No. 23-cv-01685 (C.D. Cal.), the PacWest Bancorp class action lawsuit charges PacWest Bancorp and certain of its top current and former executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in PacWest Bancorp stock and wish to serve as lead plaintiff in the PacWest Bancorp class action lawsuit, please contact PacWest Bancorp Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the PacWest Bancorp class action lawsuit must be filed with the court no later than November 13, 2023. ALLEGATIONS IN THE PACWEST BANCORP CLASS ACTION LAWSUIT
PacWest Bancorp operates as a holding company for its wholly-owned subsidiary, Pacific Western Bank (“PWB”), a regional bank based in Los Angeles, California.
The PacWest Bancorp class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) PacWest Bancorp had understated the impact of interest rates on PWB, a smaller bank with excessive concentration in specific industries; (ii) accordingly, PacWest Bancorp had overstated the stability and/or sustainability of its deposit base; and (iii) as a result, PacWest Bancorp was exceptionally vulnerable to excessive deposit flows and/or a liquidity crisis. The PacWest Bancorp class action lawsuit further alleges that on May 3, 2023, Bloomberg published an article titled “Regional Banks Sink as PacWest Weighs Strategic Options” which stated that “PacWest Bancorp led a renewed slide in regional banks after a report that it’s weighing strategic options including a sale heightened concerns that the turmoil engulfing smaller lenders is far from over.” The PacWest Bancorp class action lawsuit further alleges that on the same day, Forbes published an article titled “PacWest Stock Falls 39% After Federal Reserve’s Latest Interest Rate Hike” which stated that “PacWest has been considering a breakup or capital raise.” The PacWest Bancorp class action lawsuit alleges that on this news, the price of PacWest Bancorp stock fell more than 44%. The PacWest Bancorp class action lawsuit further alleges that on May 11, 2023, PacWest revealed that “[d]uring the week ended May 5, 2023, our deposits declined approximately 9.5%, with a majority of that decline occurring on May 4th and May 5th after the news reports on the afternoon of May 3rd.” The PacWest Bancorp class action lawsuit alleges that on this news, the price of PacWest Bancorp stock fell nearly 23%. THE LEAD PLAINTIFF PROCESS IN THE PACWEST BANCORP CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in PacWest Bancorp stock to seek appointment as lead plaintiff in the PacWest Bancorp class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in PacWest Bancorp stock and have further questions, contact PacWest Bancorp stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a PacWest Bancorp class action lawsuit if you suffered losses in PacWest Bancorp stock. CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE PACWEST BANCORP CLASS ACTION LAWSUIT IF THEY SUFFERED LOSSES IN PACWEST BANCORP?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of which have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in PacWest Bancorp stock, they may move the Court to be appointed lead plaintiff in the PacWest Bancorp class action lawsuit.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE PACWEST BANCORP CLASS ACTION LAWSUIT
Serving as a Lead Plaintiff in the PacWest Bancorp class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against PacWest Bancorp if you suffered losses in PacWest Bancorp stock. WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE PACWEST BANCORP CLASS ACTION LAWSUIT?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the PacWest Bancorp class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the PacWest Bancorp class action lawsuit on behalf of investors who suffered losses in PacWest Bancorp stock.
CAN THE COURT APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE PACWEST BANCORP CLASS ACTION LAWSUIT?
Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the PacWest Bancorp class action lawsuit.
HOW CAN A PACWEST BANCORP STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN PACWEST BANCORP STOCK?
A PacWest Bancorp stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
Call a PacWest Bancorp stock loss Lawyer today if you suffered losses in PacWest Bancorp stock about the PacWest Bancorp class action lawsuit who will fight to recover your suffered losses in PacWest Bancorp stock as well as make sure all the proper steps are taken to protect your investment. IF I SUFFERED LOSSES IN PACWEST BANCORP STOCK, HOW MUCH CAN I GET OUT OF THE PACWEST BANCORP CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in PacWest Bancorp stock. Contact a PacWest Bancorp stock loss lawyer who can explain your losses in greater detail if you suffered losses in PacWest Bancorp stock.
IF I SUFFERED LOSSES IN SUFFERED LOSSES IN PACWEST BANCORP STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE PACWEST BANCORP CLASS ACTION LAWSUIT SETTLES?
If there is a settlement in the PacWest Bancorp class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold PacWest Bancorp stock during the class period and suffered losses in PacWest Bancorp stock.
The court will hold a final hearing in the PacWest Bancorp class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the PacWest Bancorp class action lawsuit. IF THERE IS A SETTLEMENT IN THE PACWEST BANCORP CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?
If you receive a notice that the PacWest Bancorp class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against PacWest Bancorp. The notice will contain the date when any objections must be filed and include instructions on where to send your objection and include a date for the final hearing in the PacWest Bancorp class action lawsuit if you would like to appear and be heard by the court in the class action against PacWest Bancorp.
CONTACT A PACWEST BANCORP STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN PACWEST BANCORP STOCK ABOUT AN PACWEST BANCORP CLASS ACTION LAWSUIT
If you suffered losses in PacWest Bancorp stock, contact PacWest Bancorp stock loss lawyer Timothy L. Miles today for a free case evaluation about a PacWest Bancorp class action lawsuit. Call today and see what a PacWest Bancorp stock loss lawyer can do for you if you suffered losses in PacWest Bancorp stock.
PacWest Bancorp stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. Comments are closed.
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The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |
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