Square 1 Financial Inc.
SQUARE 1 FINANCIAL (SQBK) SHAREHOLDER ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Square 1 Financial, Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Square 1 Financial, Inc. (NASDAQ: SQBK) (“Square 1” or the “Company”) relating to the sale of the Company to PacWest Bancorp (“PacWest”). On March 2, 2015, the two companies announced the signing of a definitive merger agreement pursuant to which PacWest Bancorp will acquire Square 1 in a deal worth $849 million. As a result of the merger, Square 1 shareholders are only anticipated to receive a fixed ratio of 0.5997 shares of PacWest in exchange for each share of Square 1. The total consideration Square 1 shareholders anticipate receiving is roughly $27.49 per share.
Andrews & Springer’s investigation focuses on the insufficient consideration that Integrys shareholders are expected to receive. In fact, the anticipated consideration represents no premium based on Square 1’s $27.68 per share closing price on February 27, 2015. Additionally, the 0.5997 fixed exchange ratio restricts the value that Square 1 shareholders are expected to receive by exposing Square 1 shareholders to the volatility of PacWest’s share price. In the past couple of months, PacWest has traded as high as $47.58 per share on December 9, 2014 and as low as $38.96 on October 13, 2014.
If you own shares of Square 1 and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/SQBK or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.