Bull & Lifshitz, LLP Announces Investigation of 99 Cents Only Stores
October 27 2011 - 10:07AM
Business Wire
Bull & Lifshitz, LLP announces an investigation into
possible breaches of fiduciary duty in connection with the proposed
sale of 99 Cents Only Stores (NYSE: NDN - News) (referred to as
"NDN" or the “Company”) to affiliates of Ares Management LLC and
Canada Pension Plan Investment Board (“Ares”) in a cash transaction
valued at approximately $1.6 billion.
Under the terms of the agreement, Ares will acquire all of the
outstanding common shares of NDN for $22.00 per share in cash.
Members of the Gold/Schiffer family have entered into a voting
agreement in support of the transaction and will continue to hold a
significant minority ownership stake. Eric Schiffer (CEO), Jeff
Gold (President and COO), and Howard Gold (EVP) will continue in
their current leadership roles at the Company and will serve as
directors. Founder David Gold will serve as Chairman Emeritus.
Bull & Lifshitz, LLP's investigation is focused on whether
the proposed deal provides adequate value to the Company’s
shareholders.
If you are a holder of NDN common stock and want to discuss your
legal rights, you may e-mail or call Bull & Lifshitz, LLP who
will, without obligation or cost to you, attempt to answer your
questions.
If you are a shareholder of NDN and would like more information
about our investigation, please contact Joshua M. Lifshitz, Esq. by
telephone at (866) 313-6222 or by sending an e-mail including your
contact information to: counsel@nyclasslaw.com. All e-mail
correspondence should make reference to NDN.
Bull & Lifshitz, LLP is a New York City-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please visit our website at www.nyclasslaw.com.
ATTORNEY ADVERTISING. © 2011 Bull & Lifshitz, LLP.
The law firm responsible for this advertisement is Bull &
Lifshitz, LLP, 18 East 41st Street, New York, New York 10017, (212)
213-6222. Prior results do not guarantee or predict a similar
outcome with respect to any future matter.
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