According to the Complaint, Community Bank is an independent and family-owned Southern California regional community bank, founded in 1945. In addition to the Pasadena headquarters office, there are sixteen full-service branches in Southern California. Community Bank’s principal business is to provide full-service commercial and retail banking services primarily in Southern California.

This action stems from a Proposed Transaction announced on February 26, 2018, pursuant to which Community Bank will be acquired by CVB Financial Corp. (“Parent”) and its wholly-owned subsidiary, Citizens Business Bank (“Merger Sub,” and together with Parent, “CVB”).

On May 8, 2018, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The special shareholder meeting at which Community Bank’s shareholders will vote on the Proposed Transaction is scheduled to take place on June 21, 2018.

The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

On August 30, 2018, the Court issued an Order dismissing this case for failure to effect service, lack of prosecution, and failure to comply with the order of the Court.