Management Buyout of 99 Cents Only Stores Investigated by Tripp Levy PLLC
March 11 2011 - 8:24AM
Business Wire
Tripp Levy PLLC, a leading national securities law firm,
announces an investigation into the acquisition of 99 Cents Only
Stores (NYSE: NDN). It was announced that members of the
Schiffer/Gold family, together with Leonard Green & Partners
proposed to acquire all the common stock of 99 Cents that they do
not own for only $19.09 per share in case. The Schiffer/Gold family
owns approx. 33% of the company’s common stock.
The investigation concerns, among other things, whether the
consideration to be paid to 99 Cents shareholders is unfair,
inadequate, and substantially below the fair or inherent value of
99 Cents. Indeed, analysts have projected the company’s true going
forward value is at least $22 per share. The investigation further
concerns whether the Schiffer/Gold family, along with the directors
of 99 Cents may not be acting in 99 Cents shareholders' best
interests in connection with the proposed transaction, as well as
the sale process.
If you own 99 Cents common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact:
Tripp Levy Tripp Levy PLLC 125 East 82nd Street 9th Floor New York,
New York Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United States
Attorney advertising. Prior results do not guarantee a similar
outcome.
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