Robbins Umeda LLP Is Investigating 99 Cents Only Stores Acquisition for Shareholders
March 11 2011 - 1:15PM
Business Wire
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@robbinsumeda.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.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
law firm's skilled litigation teams include former federal
prosecutors, former defense counsel from top multinational
corporate law firms, and career shareholder rights attorneys.
Robbins Umeda LLP has helped its clients realize more than $1
billion of value for themselves and the companies in which they
have invested. For more information, please go to
http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/99-cents-only-stores/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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