ATLANTA, GA – – (Globe Newswire – September 12, 2023) – – Holzer & Holzer, LLC informs investors that a class action lawsuit has been filed against PacWest Bancorp (“PacWest” or “the Company”) (NASDAQ: PACW). The lawsuit alleges PacWest made false or misleading statements and/or omitted material adverse information regarding the Company’s business, operations, and prospects, including: (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; and (iii) as a result, PacWest was exceptionally vulnerable to excessive deposit flows and/or a liquidity crisis.

If you bought shares of PacWest between February 28, 2022 and May 3, 2023, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey Holzer, Esq. at cholzer@holzerlaw.com or Joshua Karr, Esq. at jkarr@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/pacwest/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is November 10, 2023.