Ryan & Maniskas, LLP Announces Investigation of 99 Cents Only Stores
March 14 2011 - 10:56AM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/ndn) is
investigating potential claims against the board of directors of 99
Cents Only Stores ("99 Cents" or the "Company") (NYSE: NDN)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s receipt of a proposal from members
of the Schiffer/Gold Family, together with Leonard Green &
Partners, L.P.
Our investigation concerns whether 99 Cents’ Board undertook a
fair process to obtain fair consideration for all shareholders of
99 Cents; in particular, whether the Company's Board breached their
fiduciary duties to 99 Cents shareholders by failing to adequately
shop the Company. For more information regarding our investigation,
please contact Ryan & Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/ndn.
Under the terms of the proposed transaction, 99 Cents common
stockholders are being offered $19.09 in cash for each share of 99
Cents they own. The Schiffer/Gold family owns approximately 33% of
the Company's outstanding common stock, and the letter to the
Company states that they are prepared to contribute a substantial
portion of their existing Company stock ownership as part of the
proposed transaction.
If you own shares of 99 Cents and would like to learn more about
these claims or if you wish to discuss these matters and have any
questions concerning this announcement or your rights, contact
Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign
up online, visit: www.rmclasslaw.com/cases/ndn. You may also email
Mr. Maniskas at rmaniskas@rmclasslaw.com. For more information
about class action cases in general, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
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