NEW YORK, May1, 2014
/PRNewswire/ -- Levi & Korsinsky is investigating the
Board of Directors of OmniAmerican Bancorp ("OmniAmerican" or "the
Company") (Nasdaq: OABC) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Southside Bancshares, Inc. ("Southside") (Nasdaq:
SBSI).
Click here to learn more about the investigation:
http://www.zlkdocs.com/OABC-Info-Request-Form-1785, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, shareholders will receive
0.4459 shares of Southside common stock plus $13.125 in cash for each outstanding share of
OmniAmerican common stock. Based on Southside's closing stock price
of $30.46 on April 28, 2014, the per share value of
consideration to OmniAmerican shareholders would be $26.71. The transaction is currently valued at
approximately $307 million. The
investigation concerns whether the OmniAmerican Board of directors
breached their fiduciary duties to stockholders by failing to
adequately shop the Company before agreeing to enter into this
transaction, and whether Southside is underpaying for OmniAmerican
shares.
If you own OmniAmerican common stock and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit
http://www.zlkdocs.com/OABC-Info-Request-Form-1785.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have
extensive expertise in prosecuting securities litigation involving
financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. For more information, please
feel free to contact any of the attorneys listed below. Attorney
advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
Logo -
http://photos.prnewswire.com/prnh/20120409/MM84375LOGO
SOURCE Levi & Korsinsky, LLP