WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Bank of Santa Clarita in connection with the proposed acquisition of the Company by Southern California Bancorp. Under the terms of the merger agreement, BSCA shareholders will receive 1.00 share of BCAL common stock for each BSCA share that they own, representing implied per-share merger consideration of approximately $14.15 based upon BCAL’s April 26, 2021 closing price of $14.15. Upon closing of the merger, current BCAL shareholders will own approximately 78% of the combined company, while BSCA shareholders will only own approximately 22.0%.
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Joshua Rubin, Esq.
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New York, NY 10036
WeissLaw LLP is investigating whether (i) BSCA’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates BSCA’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be 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 firstname.lastname@example.org