Faruqi & Faruqi, LLP is Investigating the OmniAmerican Bancorp Board of Directors for Potential Breaches of Fiduciary Duty in Connection to the Proposed Merger with Southside Bancshares Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of OmniAmerican Bancorp
NEW YORK, May 2, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, investigates a possible challenge of the Board of Directors of OmniAmerican Bancorp ("OmniAmerican" or the "Company") (OABC) actions as they relate to their recommendation and agreement to merge the Company into Southside Bancshares for approximately $307 million. The Company's stockholders are offered to receive 0.4459 shares of Southside common stock and $13.125 in cash for each share of OmniAmerican common stock they own.
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The investigation focuses on whether OmniAmerican's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of OmniAmerican's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own common stock in OmniAmerican and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/OABC or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
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Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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