DALLAS--(BUSINESS WIRE)--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.
