Pacific Capital Bancorp Investor Investigation Concerning Executive Compensation

Investigation on behalf of current investors in Pacific Capital Bancorp (Public, NASDAQ-PCBC) over possible breaches of fiduciary duty - Contact the Shareholders Foundation, Inc. at mail@shareholdersfoundation.com
By: Shareholders Foundation, Inc.
 
April 8, 2009 - PRLog -- An investigation on behalf of current investors of Pacific Capital Bancorp (Public, NASDAQ-PCBC) over possible shareholder claims concerning breaches of fiduciary duty related to the historical and potential compensation that was awarded certain senior officers was announced.

If you currently hold Pacific Capital Bancorp  you have certain options and you should contact the Shareholders Foundation, Inc immediately.

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

According to the investigation by a law firm the investigation focuses on possible claims that certain Pacific Capital Bancorp’s senior officers were unjustly enriched through their receipt of unwarranted, excessive or unearned compensation from 2005-2007.  Pacific Capital Bancorp is a community bank holding company providing full service banking, including consumer and commercial lending, trust and investment advisory services, and other consumer and business banking products through its subsidiaries’ retail branches, commercial and wealth management centers, and other distribution channels to consumers and businesses primarily located in the central coast of California.
Certain senior officers at Pacific Capital Bancorp, were awarded salaries, bonuses, stock options and other forms of long-term, ‘incentive’ or retirement compensation that was, so the investigation, excessive or unwarranted based on Pacific Capital Bancorp’s performance as compared to what senior officers at comparable companies were making and/or results that were fraudulent, misleading or not long-lasting.  The investigation by the law firm is also investigating claims that the prior compensation awarded at Pacific Capital Bancorp is now clearly improper based upon its current operating condition.  Finally the investigation focuses also on possible claims that would allow Pacific Capital Bancorp (Public, NASDAQ-PCBC) stockholders to influence or control future compensation decisions at the Company. Pacific Capital Bancorp is located in Santa Barbara, California and had $9.574billion in total assets in 2008. Shares of Pacific Capital Bancorp  traded recently at $7.57 per share, down from $25 per share in September 2008.

If you currently hold Pacific Capital Bancorp  you have certain options and you should contact the Shareholders Foundation, Inc immediately.

Email: mail@shareholdersfoundation.com

Or call us at: +1 (858) 779 - 1554

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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Tags:Pcbc, Pacific Capital, Pacific Bancorp, Pacific Capital Bancorp, Nasdaq Pcbc
Industry:Banking, Business, Legal
Location:San Diego - California - United States
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