The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of 99 Cents O...
15 March 2011 - 2:23AM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of 99 Cents Only Stores (NYSE: NDN) for possible breaches
of fiduciary duty and other violations of state law in connection
with the receipt of an acquisition proposal from members of the
Schiffer/Gold family and Leonard Green & Partners, L.P. Under
the terms of the proposed transaction, 99 Cents Only Stores
stockholders would receive $19.09 in cash per share. Currently the
Schiffer/Gold family owns approximately 33% of the Company’s
outstanding common stock.
The investigation concerns whether the 99 Cents Only Stores
Board of Directors is adequately shopping the Company in order to
obtain the best possible deal for 99 Cents Only Stores’
shareholders. According to Yahoo! Finance, at least one analyst set
a price target for 99 Cents Only Stores stock at $22.00 per
share.
If you own common stock in 99 Cents Only Stores and wish to
obtain additional information, please contact Abe Shainberg, Esq.
either via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/99cents-only-stores-ndn.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:Abe Shainberg, Esq.132 East 43rd Street, Suite 512New
York, NY 10017Tel: (212) 425-7286Fax: (866) 699.3880Email:
as@ashainberglaw.com
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