SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Luther Burbank Corporation (Nasdaq – LBC)

BALA CYNWYD – November 15, 2022 /Newsfile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Luther Burbank Corporation (“Luther Burbank” or the “Company”) (Nasdaq – LBC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Washington Federal, Inc. (Nasdaq – WAFD). Under the terms of the agreement, Luther Burbank shareholders will be entitled to receive 0.3353 shares of Washington Federal common stock for each share of Luther Burbank common stock they own in the all-stock transaction valued at approximately $654 million (based upon the closing price of Washington Federal’s common stock on November 11, 2022).

The investigation concerns whether the Luther Burbank Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Washington Federal is paying too little for the Company.

If you own shares of Luther Burbank stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.