SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of FirstCity

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of
Breaches of Fiduciary Duty by the Board of FirstCity Financial Corporation in
Connection With the Sale of the Company to Varde Partners, Inc. -- FCFC

NEW YORK, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies
investors of FirstCity Financial Corporation ("FirstCity" or the "Company")
(Nasdaq:FCFC) of claims of breaches of fiduciary duty and other violations of
state law against the board of directors of the Company in connection with the
sale of the Company to Varde Partners, Inc. A complaint was filed in Texas
state court.

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 claims concern 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 in FirstCity 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
 
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