VIST Financial Corp. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of VIST Financial ...

DALLAS, Jan. 26, 2012 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of VIST Financial Corp ("VIST Financial") (NASDAQ: VIST) to Tompkins Financial Corporation for shareholders.  Under the proposed merger acquisition, VIST Financial shareholders will receive a fixed ratio of 0.3127 shares of Tompkins Financial common stock for each share of VIST Financial common stock held.  Based on the closing price of Tompkins Financial shares the day prior to the announcement, the acquisition price represents a value of approximately $12.82 per share to VIST Financial shareholders. 

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If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free [phone], via e-mail at [e-mail], or Willie Briscoe at The Briscoe Law Firm, PLLC, [phone], or via email at [e-mail].  There is no cost or fee to you.

The definitive acquisition agreement involves a stock-for-stock transaction with a total enterprise value of approximately $86.0 million.

Although the acquisition price represents a premium over VIST Financial's closing price the day before the buyout announcement, VIST Financial/ shares closed as high as $9.23 per share as recently as March 16, 2011.  Further, since reaching its 52-week trading high of $10.00 per share in March, the value of VIST Financial shares declined substantially.  "Because this transaction comes at a time when VIST shares have fallen significantly in value, we are concerned that the transaction does not provide adequate value to the shareholders," said shareholder rights attorney Willie Briscoe.  The investigation centers on whether VIST Financial shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues VIST Financial's stock, and whether VIST Financial's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

 

SOURCE Powers Taylor, LLP

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