NEW YORK, June 24, 2021 (GLOBE NEWSWIRE) -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Bank of Commerce Holdings (“Bank of Commerce” or the “Company”) (NASDAQ: BOCH) in connection with the proposed acquisition of the Company by Columbia Banking System, Inc. (NASDAQ: COLB) (“Columbia”). Under the terms of the merger agreement, Bank of Commerce’s shareholders will receive 0.40 Columbia shares for each Bank of Commerce share they own, representing implied per-share merger consideration of approximately $15.72 based upon Columbia’s June 23, 2021 closing price of $39.30. The transaction is valued at approximately $266 million. Following consummation of the all-stock transaction, existing Bank of Commerce shareholders will own only 9% of the combined company.
If you own Bank of Commerce shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/boch
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw LLP is investigating whether Bank of Commerce’s board acted in the best interest of Bank of Commerce’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Columbia, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to Bank of Commerce’s public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com