Ryan & Maniskas, LLP Announces Investigation of West Coast Bancorp
27 September 2012 - 4:46PM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/wcbo) is
investigating potential claims against the board of directors of
West Coast Bancorp (“West Coast” or the “Company”) (NASDAQ: WCBO)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s efforts to sell the Company to
Columbia Banking System, Inc. in a transaction valued at
approximately $506 million.
Our investigation concerns possible breaches of fiduciary duty
and other violations of law related to the approval of the
transaction by the Company’s board of directors; in particular,
whether the Company undertook a fair process to obtain fair
consideration for all shareholders of West Coast. For more
information regarding our investigation, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877)
316-3218 or by email at rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/wcbo.
Under the terms of the proposal, public shareholders of West
Coast will receive Columbia common stock, cash, or a combination of
both stock and cash for each share of West Coast they own. The
value received by West Coast shareholders on a per share basis will
fluctuate based on Columbia's stock prices. Based on Columbia's
closing stock price of $18.85 on September 25, 2012, West Coast
shareholders would have received consideration valued at
approximately $23.10 per share.
If you own shares of West Coast and would like to learn more
about these claims or if you wish to discuss these matters and have
any questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign
up online, visit: www.rmclasslaw.com/cases/wcbo. You may also email
Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information
about class action cases in general, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
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