Ryan & Maniskas, LLP: Investigation of FirstCity Financial Corp.

       Ryan & Maniskas, LLP: Investigation of FirstCity Financial Corp.

PR Newswire

WAYNE, Pa., Dec. 27, 2012

WAYNE, Pa., Dec. 27, 2012 /PRNewswire/ --Ryan & Maniskas, LLP
(www.rmclasslaw.com/cases/fcfc) is investigating potential claims against the
board of directors of FirstCity Financial Corp. ("FirstCity" or the "Company")
(NASDAQ: 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.
in a valued at approximately $224.9 million.

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Our investigation concerns possible breaches of fiduciary duty and other
violations of law related to the approval of the transaction by the Company's
board of directors; in particular, whether the Company undertook a fair
process to obtain fair consideration for all shareholders of FirstCity. For
more information regarding our investigation, please contact Ryan & Maniskas,
LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.comor visit: www.rmclasslaw.com/cases/fcfc.

Under the terms of the transaction, FirstCity shareholders will receive $10.00
for each share of FirstCity stock they own.

If you own shares of FirstCity and would like to learn more about these claims
or if you wish to discuss these matters and have any questions concerning this
announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at
(877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/fcfc.
You may also email Mr. Maniskas at rmaniskas@rmclasslaw.com. For more
information about class action cases in general, please visit our website:

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts

CONTACT: Ryan & Maniskas, LLP
         Richard A. Maniskas, Esquire
         995 Old Eagle School Rd., Suite 311
         Wayne, PA 19087

SOURCE Ryan & Maniskas, LLP

Website: http://www.rmclasslaw.com
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