FFFD North Central Bancshares, Inc. (MM)

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of North Central Bancshares, Inc. (“North Central Bancshares” or “FFFD”) (NASDAQ: FFFD) to Great Western Bancorporation, Inc. for shareholders. Under the proposed acquisition, North Central Bancshares shareholders will receive only $30.58 in cash for each share of North Central Bancshares/FFFD stock owned.

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 (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction with a total equity value of approximately $41.5 million. The deal is expected to close in the summer of 2012.

The investigation centers on whether North Central Bancshares shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues North Central Bancshares stock, and whether North Central Bancshares’ board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Although the acquisition price represents an approximate 39% premium over the closing price of North Central Bancshares shares the day prior to the buyout announcement, North Central Bancshares shares recently reported a book value of $30.98 per share. According to shareholder rights attorney Willie Briscoe, “Due to the lack of a significant premium for North Central Bancshares shareholders, and the fact that the transaction contains certain deal protection measures, including a possible early termination fee as high as $1.66 million, we are investigating whether the transaction is unfair to North Central Bancshares shareholders. Our lawsuit will seek to obtain the highest share price for all shareholders.”

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.

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