Pacific Premier Bank sent a letter proposing a global settlement to the Receiver and to the two groups of investors pursuing a case against the bank in Oregon State and Federal Court. The bank suggests that all parties, as well as any interested investors, meet to discuss its proposal no later than next Wednesday, November 8th. The Receiver will update this website when a meeting is scheduled so that interested investors can attend. The letter is available for download here (PDF).
We have received many questions regarding the settlement agreements and the Oregon civil litigation. To best respond to these and to ensure that everyone has the same set of facts, we have put together a new FAQ sheet (PDF) with questions related to the settlements. It is available on the documents page, as well as on the FAQ section of this website. As always, please feel free to contact the Receiver’s office by phone or email if you have any questions not addressed.
The Receiver mailed the following letter to investors on October 10, 2023 regarding the status of the Settlement Agreements. Read the letter (PDF).
The lawyers for the seven Oregon plaintiffs who previously objected to the Receiver’s settlements with Pacific Premier Bank and Riverview Bank have filed an appeal of the order approving the bank settlements and the order denying the reconsideration of that order. The notice is available on the AEM Investors site.
Judge Gregerson issued a written ruling denying the Oregon Plaintiff’s Motion to Reconsider on September 22, 2023. The order is available on the documents page.
The lawyers for the seven Oregon plaintiffs who previously objected to the Receiver’s settlements with Pacific Premier Bank and Riverview Bank have filed a motion asking Judge Gregerson to reconsider his order approving the settlements. The full motion is available on the documents page. Oral arguments and a hearing have been scheduled for September 22 at 3:30pm, which will take place at this Zoom link: https://clark-wa-gov.zoom.us/j/88569328225?pwd=blVHdHRCbWQ5cHV1SDZ5dzkyOGNPZz09.
Judge Gregerson approved the Settlement Motion at the hearing on August 31st. Objectors will have 30 days to appeal the order. The Receiver will continue to work with the Banks to satisfy the remaining conditions of the Settlement Agreement, which will now need to be upheld in the Oregon courts where there is pending litigation.
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