NEW YORK, July 23, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of CapitalSource, Inc. ("CapitalSource" or the "Company") (NYSE: CSE) (ISIN: US14055X1028) (CUSIP: 14055X102) concerning the proposed acquisition of CapitalSource by PacWest Bancorp in a transaction valued at $2.3 billion.
The investigation concerns whether the CapitalSource directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, CapitalSource shareholders will be entitled to receive $2.47 per share in cash and 0.2837 shares of PacWest common stock for each share of CapitalSource common stock. However, the price to EBIT and Net Income multiples are below the average of comparable transactions. In addition, James Pieczynski, Chief Executive Officer of CapitalSource, and other senior members of CapitalSource management have secured continued employment with the post-merger company.
CapitalSource shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Hilltop Community Bancorp, Inc., Dole Food Company, Inc., and Cooper Tire & Rubber Company.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
CONTACT:
Robert Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCEPomerantz Grossman Hufford Dahlstrom & Gross LLP
