NEW ORLEANS, April 30, 2014 /PRNewswire/ -- Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC ("KSF") are investigating the proposed sale of OmniAmerican Bancorp, Inc. ("Omni" or the "Company") (NASDAQ: OABC) to Southside Bancshares, Inc. ("Southside") (NASDAQ: SBSI). Under the terms of the proposed transaction, shareholders of Omni will receive only 0.4459 shares of Southside common stock plus $13.25 in cash for each share of Omni common stock that they own. 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. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) or associate Michael J. Palestina ([email protected]) toll free at any time at 855-768-1857.
To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC