STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of San Diego Trust Bank (“San Diego Trust” or the “Company”) (OTC: SDBK) and other violations of state law by the board of directors of San Diego Trust relating to the proposed buyout of the Company by Pacific Premier Bancorp, Inc. (“Pacific Premier”). The firm’s investigation seeks to determine, among other things, whether San Diego Trust’s board of directors breached their fiduciary duties by failing to maximize shareholder value.
As stated in the press release announcing the proposed buyout, San Diego Trust shareholders will have a choice between electing to receive $13.41 per share in cash or 1.114 shares of Pacific Premier common stock for each share of San Diego Trust they own or a combination thereof. According to Yahoo! Finance, San Diego Trust shares were trading at $14.50 the week before the proposed buyout was announced.
If you currently own common stock of San Diego Trust and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.