LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of San Diego Trust Bank (“SDBK” or the “Company”) (OTC Markets: SDBK) related to the proposed acquisition of the Company by Pacific Premier Bancorp, Inc (“PPBI”). The transaction is valued at approximately $30.6 million. Under the terms of the deal, shareholders will have the option to receive $13.41 per share in cash, 1.114 shares of PPBI common stock for each share of SDBK, or a combination of the two – subject to the overall requirement that 50% of the consideration be in cash and 50% be in PPBI stock.
This investigation concerns whether the Board of Directors of SDBK breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $11.25 on October 4, 2012 to $14.50 on February 21, 2013.
If you are a shareholder of SDBK, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at 310-201-9150 or Toll-Free at 888-773-9224 or by email to email@example.com.
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