Investor Vote On $231M PacWest-First Calif. Deal Wins OK

Law360, Los Angeles (March 19, 2013, 7:17 PM EDT) -- A California judge cleared the way Tuesday for a shareholder vote on PacWest Bancorp's proposed $231 million acquisition of bank holding company First California Financial Group Inc., indicating he will approve a settlement of a putative shareholder class action challenging the deal.

With the vote scheduled for Wednesday morning, Los Angeles Superior Court Judge William F. Highberger said investor Paul Githens, who filed the proposed class action in November, might have had a basis for blocking the deal because FCAL's confidentiality agreements with potential bidders included...
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