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Investigations  /  03.11.2011

99 Cents Only Stores

Robbins Umeda LLP Is Investigating 99 Cents Only Stores Acquisition for Shareholders

Robbins Umeda LLP, a shareholder rights litigation firm, is investigating possible breaches of fiduciary duty and other violations of state law by members of the board of directors of 99 Cents Only Stores (NYSE: NDN) in connection with their efforts to sell 99 Cents Only to the Schiffer-Gold family and Leonard Green & Partners LP.

If you own stock in 99 Cents Only and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsarroyo.com.

On March 11, 2011, 99 Cents Only announced it has received a proposal to be taken private by members of the Schiffer-Gold family and Leonard Green & Partners LP. Under the current proposal, 99 Cents Only shareholders will receive $19.09 in cash for each share of 99 Cents Only common stock they hold.

The investigation seeks to determine whether 99 Cents Only’s board of directors are undertaking a fair process to obtain maximum value for its shareholders. ¬†Notably, at least one analyst has set a target price for 99 Cents Only stock at $23.50 per share.¬† Furthermore, on February 2, 2011, 99 Cents Only reported strong third quarter 2011 results of $365.36 million, beating analysts’ expectations.

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Please Note: Neither the submission to nor the receipt of information by Robbins Arroyo LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.

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