Harwood Feffer LLP Announces Investigation of FirstCity Financial Corp.

NEW YORK, Dec. 21, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of FirstCity Financial Corp. ("FirstCity" or the "Company") (NASDAQ: FCFC) concerning the proposed acquisition of the Company by Varde Partners, Inc. ("Varde") in a transaction valued at approximately $225 million.    

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On December 21, 2012, FirstCity announced that it had entered into a definitive agreement pursuant to which the Company will be acquired by Varde.  Under the terms of the agreement, FirstCity shareholders will receive $10.00 for each share owned. 

Our investigation concerns whether the FirstCity board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders. 

If you own FirstCity shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Benjamin Sachs-Michaels, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

Attorney Advertising © 2012 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

SOURCE Harwood Feffer LLP