SHAREHOLDER ALERT: Weiss Law Investigates Luther Burbank Corporation

NEW YORK, Nov. 14, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Luther Burbank Corporation ("Luther Burbank" or the "Company") (NASDAQ: LBC) in connection with its takeover by Washington Federal, Inc. ("Washington Federal") (NASDAQ: WAFD). Under the merger agreement, the Company's shareholders will receive 0.3353 shares of Washington Federal common stock for each Luther Burbank share, representing implied per-share consideration of $12.79 based upon Washington Federal's November 11, 2022 closing price of $38.15. The transaction is valued at approximately $654 million.

If you own Luther Burbank shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/lbc 
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7^th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
[email protected]

Weiss Law is investigating whether (i) Luther Burbank's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the merger consideration adequately compensates Luther Burbank's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. 

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]

SOURCE Weiss Law

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