openPR Logo
Press release

Takeover of Opus Bank (NASDAQ: OPB) under Investigation for Investors

02-14-2020 06:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Opus Bank (NASDAQ: OPB) in connection with the proposed takeover was announced.

An investigation on behalf of investors of Opus Bank (NASDAQ: OPB) in connection with the proposed takeover was announced.

An investigation was announced concerning whether the takeover of Opus Bank is unfair to ASDAQ: OPB stockholders.

Investors who purchased shares of Opus Bank (NASDAQ: OPB) and currently hold any of those NASDAQ: OPB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Opus Bank breached their fiduciary duties owed to NASDAQ: OPB investors in connection with the proposed acquisition.

Irving, CA based Opus Bank provides various banking products, services, and solutions for small and mid-sized companies, entrepreneurs, real estate investors, professionals, and high net worth individuals.

On February 3, 2020, Pacific Premier Bancorp, Inc. (NASDAQ: PPBI), the holding company of Pacific Premier Bank, and Opus Bank (NASDAQ: OPB) announced they have entered into an agreement under which Pacific Premier Bancorp, Inc will acquire Opus Bank in an all-stock transaction valued at approximately $1.0 billion, or $26.82 per NASDAQ: OPB share, based on a closing price for Pacific Premier's common stock of $29.80 as of January 31, 2020.

However, given that at least one analyst has set the high target price for NASDAQ: OPB shares at $40.00 per share and given that NASDAQ: OPB shares traded in the open market as recently as October 29, 2019 as high as $34.90 per share, the investigation concerns whether the offer is unfair to NASDAQ: OPB stockholders. More specifically, the investigation concerns whether the Opus Bank Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Opus Bank reported that its annual Total Revenue rose from $269.07 million in 2017 to $410.45 million in 2018 and that its Net Income increased from $60.10 million in 2017 to $123.34 million in 2018.

Shares of Opus Bank (NASDAQ: OPB) closed on February 6, 2020, at $30.41 per share.

Those who are current investors in Opus Bank (NASDAQ: OPB) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Takeover of Opus Bank (NASDAQ: OPB) under Investigation for Investors here

News-ID: 1933207 • Views: 280

More Releases from Shareholders Foundation

Investigation announced for Investors in NYSE: NOVA shares over potential Wrongd …
An investigation on behalf of investors in shares of Sunnova Energy International Inc. (NYSE: NOVA) was announced over potential breaches of fiduciary duties by certain officers and directors at Sunnova Energy International Inc. Investors who purchased shares of Sunnova Energy International Inc. (NYSE: NOVA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain Sunnova Energy
Investigation for Investors in E*TRADE Financial Corporation (NASDAQ: ETFC) over …
An investigation was announced concerning whether the takeover of E*TRADE Financial Corporation is unfair to NASDAQ: ETFC stockholders. Investors who purchased shares of E*TRADE Financial Corporation (NASDAQ: ETFC) and currently hold any of those NASDAQ: ETFC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain officers and directors of E*TRADE Financial Corporation breached their
Investigation announced for Long Term Investors in shares of Altria Group, Inc. …
Certain directors of Altria Group, Inc are under investigation concerning potential breaches of fiduciary duties. Investors who are current long term investors in Altria Group, Inc. (NYSE: MO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for investors in NYSE: MO stocks follows a lawsuit filed against Altria Group, Inc. over alleged securities laws violations.
Investigation announced for Long-Term Investors in NASDAQ: MDXG shares over poss …
An investigation was announced concerning possible breaches of fiduciary duties by certain directors at MiMedx Group Inc. Investors who purchased shares of MiMedx Group Inc (NASDAQ: MDXG) and currently hold any of those NASDAQ: MDXG shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm concerns whether certain MiMedx Group directors breached their fiduciary duties and caused damage

All 5 Releases