WILMINGTON, Del., Sept. 26, 2012 /PRNewswire/ --
West Coast Bancorp
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of West Coast
Bancorp ("West Coast" or the "Company") (NASDAQ GS: WCBO) regarding
possible breaches of fiduciary duties and other violations of law
related to the Company's entry into an agreement to be acquired by
Columbia Banking System, Inc. ("Columbia") (NASDAQ GS: COLB) in a transaction
valued at approximately $506
million. Under the terms of the proposal, public
shareholders of West Coast will receive Columbia common stock, cash, or a combination
of both stock and cash for each share of West Coast they own.
The value received by West Coast shareholders on a per share basis
will fluctuate based on Columbia's
stock prices. Based on Columbia's closing stock price of $18.85 on September 25,
2012, West Coast shareholders would have received
consideration valued at approximately $23.10 per share.
The investigation concerns whether West Coast's board of
directors failed to adequately shop the Company and obtain the best
possible value for West Coast's shareholders before entering into
an agreement with Columbia. According to Yahoo! Finance, at
least one analyst has set a price target for West Coast stock at
$24.00 per share.
If you own the common stock of West Coast and purchased your
shares before September 26, 2012, if
you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825
East Gate Boulevard, Suite 300, Garden
City, New York 11530 toll free at (888) 969-4242, by e-mail
to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/west-coast-bancorp-wcbo.
Union Drilling, Inc.
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of Union
Drilling, Inc. ("Union Drilling" or the "Company") (NASDAQ GS:
UDRL) regarding possible breaches of fiduciary duties and other
violations of law related to the Company's entry into an agreement
to be acquired by Sidewinder Drilling Inc. ("Sidewinder") in a
transaction valued at approximately $242
million. Under the terms of the proposal, public
shareholders of Union Drilling will receive $6.50 per share in cash for each share of Union
Drilling they own.
If you own the common stock of Union Drilling and purchased your
shares before September 25, 2012, if
you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any
questions concerning this announcement or your rights or interests
with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825
East Gate Boulevard, Suite 300, Garden
City, New York 11530 toll free at (888) 969-4242, by e-mail
to info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/union-drilling-inc-udrl.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights
litigation and corporate governance litigation, on behalf of
shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a
similar outcome.
SOURCE Rigrodsky & Long, P.A.