The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of Silverleaf Resorts, Inc. (“Silverleaf” or “SVLF”) (NASDAQ: SVLF) related to the proposed buyout of Silverleaf by SL Resort Holdings, Inc., an affiliate of the private equity firm Cerberus Capital Management, LP. The definitive acquisition agreement, which was announced on February 3, 2011, involves a transaction valued at approximately $94 million. Under the proposed buyout, Silverleaf shareholders will receive only $2.50 in cash for each share of Silverleaf/SVLF common stock they hold.

The investigation relates to the fairness of the proposed transaction to Silverleaf shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Silverleaf for approving this transaction, and whether Silverleaf’s Board of Directors acted in the shareholders’ best interests. In particular, at least one analyst has set a target price of $5.00 per share of Silverleaf stock, and the reported book value of Silverleaf stock is $5.47 per share. “Based on the fact that the acquisition price is approximately half of the reported book value of Silverleaf shares, and other factors, the acquisition price does not appear fair to Silverleaf shareholders. We want to ensure that the shareholders obtain a fair price and the maximum value for their shares in this buyout,” said former Securities and Exchange Commission attorney Willie Briscoe.

If you currently own shares of Silverleaf Resorts/SVLF and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation 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.

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