Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of OmniAmerican Bancorp (“OmniAmerican”) (NasdaqGS: OABC)
related to the sale to Southside Bancshares, Inc. for shareholders.
Under the terms of the transaction, valued at approximately $307
million, OmniAmerican shareholders will only receive 0.4459 shares of
Southside common stock plus $13.125 in cash for each share owned. The
total consideration, based on Southside’s closing stock price on April
28, 2014, is approximately $26.71.
If you are an affected investor, and you want to learn more about the
lawsuit or join the action, contact Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
The OmniAmerican investigation centers on whether OmniAmerican’s Board
of Directors is acting in the shareholders’ best interests, whether the
board is properly considering the proposed price for the shareholders,
and whether the board has employed an adequate process to review and act
on the proposed transaction.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014