OMNIAMERICAN BANCORP, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout

Business Wire

WILMINGTON, Del.--(BUSINESS WIRE)--

Rigrodsky & Long, P.A.:

  • Do you own shares of OmniAmerican Bancorp, Inc. (NASDAQ GS: OABC)?
  • Did you purchase any of your shares prior to April 29, 2014?
  • Do you think the proposed buyout price is too low?
  • Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of OmniAmerican Bancorp, Inc. (“OmniAmerican” or the “Company”) (NASDAQ GS: OABC) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Southside Bancshares, Inc. (“Southside”) (NASDAQ GS: SBSI), in a transaction valued at approximately $307 million.

Click here to learn more: http://www.rigrodskylong.com/investigations/omniamerican-bancorp-inc-oabc.

Under the terms of the agreement, public shareholders of OmniAmerican would receive 0.4459 shares of Southside common stock plus $13.125 in cash for each share of OmniAmerican they own. Based on Southside’s closing stock price on April 28, 2014, OmniAmerican shareholders would have received consideration valued at approximately $26.71 per share.

The investigation concerns whether OmniAmerican’s board of directors failed to adequately shop the Company and obtain the best possible value for OmniAmerican’s shareholders before entering into an agreement with Southside.

If you own the common stock of OmniAmerican and purchased your shares before April 28, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/omniamerican-bancorp-inc-oabc.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

Contact:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

Rates

View Comments (0)