Heritage Oaks Bancorp ("Heritage") is a holding company for Heritage Oaks Bank, a community bank in California.

According to the Complaint, on December 12, 2016, the Board caused Heritage to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, stockholders of Heritage will receive 0.3471 shares of Pacific for each share of Heritage they own.

On February 28, 2017, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on June 7, 2017.