Columbia Banking System, Inc.

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COLUMBIA BANKING MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE MERGER OF COLUMBIA BANKING SYSTEM, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – COLB

October 12, 2021.

New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the merger of Columbia Banking System, Inc. (NASDAQ: COLB) and Umpqua Holdings Corporation is fair to Columbia shareholders. Under the terms of the agreement, Umpqua shareholders will receive 0.5958 of a share of Columbia stock for each Umpqua share they own. Upon completion of the transaction, Columbia shareholders will own approximately 38% of the combined company.

The investigation concerns whether Columbia and its board violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to, among other things: (1) obtain the best possible consideration for Columbia shareholders; and (2) disclose all material information necessary for Columbia shareholders to adequately assess and value the merger consideration. On behalf of Columbia shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.

Halper Sadeh LLP represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

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