Recent Security Class Actions

PacWest Bancorp Common Stock (NASDAQ: PACW)

Company Name:PacWest Bancorp Common Stock
Stock Symbol:NASDAQ: PACW
Class Period Start:02/28/2022
Class Period End (inclusive):05/10/2023
Filing Deadline:11/10/2023

According to the Complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors that: (i) PacWest had understated the impact of interest rate hikes on PWB, a smaller bank with excessive concentration in specific industries; (ii) accordingly, the Company had overstated the stability and/or sustainability of its deposit base; (iii) as a result, PacWest was exceptionally vulnerable to excessive deposit flows and/or a liquidity crisis; and (iv) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.