FirstCity Financial Corp.

Company Name
FirstCity Financial Corp.
Stock Symbol
FCFC
Status
Under Investigation

    Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of FirstCity Financial Corp. (“FirstCity Financial” or the “Company”) (NASDAQ: FCFC) related to the proposed acquisition of the Company by Varde Partners, Inc. The transaction is valued at approximately $225 million including debt or $10 per share.
    This investigation concerns whether the Board of Directors of FirstCity Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth.

FirstCity Financial Corp. Board of Directors Under Investigation for Potential Breaches of Fiduciary Duty by Glancy Binkow & Goldberg LLP                                                
    Los Angeles, CA – Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of FirstCity Financial Corp. (“FirstCity Financial” or the “Company”) (NASDAQ: FCFC) related to the proposed acquisition of the Company by Varde Partners, Inc. The transaction is valued at approximately $225 million including debt or $10 per share.
    This investigation concerns whether the Board of Directors of FirstCity Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth.
    If you are a shareholder of FirstCity Financial, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com.    

    This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

If you would like to view a copy of a retention agreement or discuss matters further, please contact us by email at shareholders@glancylaw.com or by phone at (310) 201-9150.