SOURCE: Holzer Holzer & Fistel, LLC

Holzer Holzer & Fistel, LLC

September 11, 2009 15:09 ET

Holzer Holzer & Fistel, LLC Announces That a Class Action Lawsuit Has Been Filed on Behalf of Investors in Pacific Capital Bancorp

ATLANTA, GA--(Marketwire - September 11, 2009) - Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of purchasers of Pacific Capital Bancorp ("Pacific Capital" or the "Company") (NASDAQ: PCBC) who purchased shares between April 30, 2009 and July 30, 2009, inclusive (the "Class Period"). The lawsuit alleges, among other things, that Pacific Capital misrepresented the sufficiency of its loan-loss reserves, and according to the lawsuit, Pacific Capital also misrepresented the methodology by which it calculated its loan loss reserves.

If you purchased shares of Pacific Capital common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than November 9, 2009. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a Pacific Capital investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, www.holzerlaw.com and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.