Legion Partners Asset Management, LLC urges Banc of California, Inc. (NYSE:BANC) to consider multiple strategic alternatives. Legion Partners which reported a 6.3% stake in Banc of California, said the company should consider all strategic alternatives, including a sale. Legion Partners said it had serious concerns with the lender's corporate governance and had lost confidence in its board. The board should immediately hire a nationally recognized independent financial adviser and form a special committee of independent directors to consider all strategic alternatives, Legion Partners said.