OMNIAMERICAN BANCORP, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout

  Announces Investigation Of Buyout

Business Wire

WILMINGTON, Del. -- May 6, 2014

Rigrodsky & Long, P.A.:

  *Do you own shares of OmniAmerican Bancorp, Inc. (NASDAQ GS: OABC)?
  *Did you purchase any of your shares prior to April 29, 2014?
  *Do you think the proposed buyout price is too low?
  *Do you want to discuss your rights?

Rigrodsky & Long, P.A. announces that it is investigating potential legal
claims against the board of directors of OmniAmerican Bancorp, Inc.
(“OmniAmerican” or the “Company”) (NASDAQ GS: OABC) regarding possible
breaches of fiduciary duties and other violations of law related to the
Company’s entry into an agreement to be acquired by Southside Bancshares, Inc.
(“Southside”) (NASDAQ GS: SBSI), in a transaction valued at approximately $307

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Under the terms of the agreement, public shareholders of OmniAmerican would
receive 0.4459 shares of Southside common stock plus $13.125 in cash for each
share of OmniAmerican they own. Based on Southside’s closing stock price on
April 28, 2014, OmniAmerican shareholders would have received consideration
valued at approximately $26.71 per share.

The investigation concerns whether OmniAmerican’s board of directors failed to
adequately shop the Company and obtain the best possible value for
OmniAmerican’s shareholders before entering into an agreement with Southside.

If you own the common stock of OmniAmerican and purchased your shares before
April 29, 2014, if you have information or would like to learn more about
these claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky &
Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone
at (888) 969-4242; by e-mail to, or at:

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United

Attorney advertising. Prior results do not guarantee a similar outcome.


Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
Fax: 302-654-7530
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