Harwood Feffer LLP Announces Investigation of Banc of California, Inc.

NEW YORK, Jan. 24, 2017 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Banc of California, Inc. ("Banc of California" or the "Company") (NYSE: BANC) concerning whether the board has breached its fiduciary duties to shareholders.

On November 10, 2016, the Company disclosed that it would not be able to timely file its Form 10-Q for the third quarter and that the board had formed a special committee to review certain relationships and related party transactions.

On January 23, 2017, the Company disclosed that its Chairman and CEO, Steven Sugarman, had resigned and that the SEC issued a formal order of investigation directed at the issues being reviewed by the special committee.

Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.

If you own Banc of California shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email:  bsachsmichaels@hfesq.com
Website:   http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm. 

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SOURCE Harwood Feffer LLP