Law Offices of Howard G. Smith Announces 21 Days Remaining to Move for Appointment as Lead Plaintiff in the Shareholder Lawsuit Against Pacific Capital Bancorp

October 19, 2009 7:33 PM EDT

BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith announces a November 9, 2009, deadline to move to be a lead plaintiff in the securities class action lawsuit filed on behalf of all persons or entities who purchased the common stock of Pacific Capital Bancorp (the "Company")(Nasdaq: PCBC) between April 30, 2009 and July 30, 2009, inclusive (the "Class Period"). The shareholder lawsuit is pending in the United States District Court for the Central District of California.

The Complaint charges Pacific Capital Bancorp and certain of the Company's executive officers, among others, with violations of federal securities laws. Pacific Capital Bancorp is a bank holding company and the parent company of Pacific Capital Bank, N.A., a nationally chartered bank that operates 46 branches under the local brand names Santa Barbara Bank & Trust, First National Bank of Central California, South Valley National Bank, San Benito Bank and First Bank of San Luis Obispo. The Complaint alleges that the defendants violated federal securities laws by issuing material misrepresentations to the market concerning Pacific Capital Bancorp's financial performance and prospects, thereby artificially inflating the price of the Company's securities.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Pacific Capital Bancorp common stock between April 30, 2009 and July 30, 2009, you have certain rights, and have until November 9, 2009, to move for lead plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll-Free at (888) 638-4847, by email to howardsmith@howardsmithlaw.com or visit our website at http://www.howardsmithlaw.com.

    Source: Law Offices of Howard G. Smith

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