Shareholders purchasing 99 Cents Only Stores, Inc. (NYSE: NDN) shares prior to March 11, 2011 may have potential claims against the board of directors of the company concerning possible breaches of fiduciary duty and other violations of law related to the company’s acquisition by Leonard Green & Partners, L.P. to acquire the company in a “going private” transaction for $19.09 per share in cash.
The Schiffer/Gold Family
The Schiffer/Gold family already owns approximately 33% of the Company’s outstanding common stock, and the Proposal letter states that they are prepared to contribute a substantial portion of their existing Company stock ownership as part of the proposed transaction. At least one analyst has set a target price of $22.00 per share for 99 Cents stock. Special Committee formed on April 11, 2011 to evaluate the Proposal. Major investors and institutional investors have publicly voice their opposition to the Proposal.
Guiliano Law Firm
The practice of Nicholas J. Guiliano, Esq., and The Guiliano Law Firm, P.C., is limited to the representation of investors in claims for fraud in connection with the sale of securities, the sale or recommendation of excessively risky or unsuitable securities, breach of fiduciary duty, and the failure to supervise. We accept representation on a contingent fee basis, meaning there is no cost to unless we make a recovery for you, and there is never any charge for a consultation or an evaluation of your claim. For more information contact us at (877) SEC-ATTY.