CU Bancorp is the holding company for California United Bank, which provides commercial banking services.

According to the Complaint, on April 5, 2017, the Board caused CU Bancorp to enter into an agreement and plan of merger (the “Merger Agreement”). Pursuant to the terms of the Merger Agreement, stockholders of CU Bancorp will receive $12.00 per share in cash and 0.5308 of a share of PacWest common stock.

On May 26, 2017, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

On September 20, 2017, Lead Plaintiff filed a stipulation to voluntarily dismiss this action without prejudice. On September 21, the case was dismissed.