SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible
Breaches of Fiduciary Duty by the Board of FirstCity Financial Corporation in
       Connection with the Sale of the Company to Varde Partners, Inc.

PR Newswire

NEW YORK, Dec. 27, 2012

NEW YORK, Dec. 27, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the
Board of Directors of FirstCity Financial Corporation ("FirstCity" or the
"Company") (NasdaqGS: FCFC) for possible breaches of fiduciary duty and other
violations of state law in connection with the sale of the Company to Varde
Partners, Inc.

Click here to learn how to join the action: http://zlk.9nl.com/firstcity-fcfc,
or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, FirstCity shareholders will receive $10.00
for each share of FirstCity stock they own. The transaction has total
approximate value of $224.9 million. The investigation concerns whether the
FirstCity Board of Directors breached their fiduciary duties to stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Varde Partners, Inc. is underpaying for FirstCity
shares, thus unlawfully harming FirstCity stockholders.

If you own common stock inFirstCity 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
http://zlk.9nl.com/firstcity-fcfc.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, and
Washington D.C. The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors throughout the
nation in securities and shareholder lawsuits. The attorneys at Levi &
Korsinsky have been appointed by numerous courts throughout the country to
serve as lead counsel on behalf of shareholders in major securities lawsuits
and have successfully recovered multimillion-dollar damages awards on behalf
of investors. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.

CONTACT:
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



SOURCE Levi & Korsinsky, LLP

Website: http://www.zlk.com
 
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