Shareholders Foundation, Inc.

Pacific Mercantile Bancorp (NASDAQ:PMBC) Investor Alert: Investigation over Potential Wrongdoing Announced

An investigation on behalf of current long-term investors in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) over potential wrongdoing at Pacific Mercantile Bancorp was announced and current NASDAQ:PMBC stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (SBWIRE) -- 04/30/2013 -- An investigation on behalf of current long-term stockholders in Pacific Mercantile Bancorp (NASDAQ:PMBC) shares was announced concerning whether certain officer and directors of Pacific Mercantile Bancorp breached their fiduciary duties in connection certain financial statements.

Investors who are current long-term stockholders in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.

The investigation by a law firm concerns whether certain Pacific Mercantile Bancorp officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.

Pacific Mercantile Bancorp reported that its Net Income declined from $11.63 million in 2011 to $9.65 million in 2012.

The total compensation of certain top officials at Pacific Mercantile Bancorp increased between 2011 and 2012. For instance, the President and CEO’s pay rose from over $1.00 million in 2011 to over $1.81million in 2012 and the total compensation of the President for the Mortgage Division of the Bank increased from over $511,000 in 2011 to over $1.24 million in 2012.

Shares of Pacific Mercantile Bancorp (NASDAQ:PMBC) grew from $2.97 per share in October 2011 to as high as $7.26 per share in October 2012.

On April 29, 2013, NASDAQ:PMBC shares closed at $6.04 per share.

Those who are current long-term stockholders in shares of Pacific Mercantile Bancorp (NASDAQ:PMBC), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com