Rigrodsky & Long, P.A. Investigates 99 Cents Only Stores Going Private Proposal - NDN

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of 99 Cents Only Stores (“99 Cents” or the “Company”) (NYSE: NDN) concerning the Company’s receipt of a proposal from members of the Schiffer/Gold Family, together with Leonard Green & Partners, L.P. (“LGP”), to acquire the Company in a “going private” transaction for $19.09 per share in cash (the “Proposal”). Click here to learn how to join the action: http://www.rigrodskylong.com/news/99CentsOnlyStores-NDN.

The investigation concerns whether 99 Cents’ board of directors is adequately shopping the Company and working to obtain the best price possible for 99 Cents shareholders. The Proposal contemplates the acquisition of all of the outstanding shares of common stock of 99 Cents for $19.09 per share in cash. However, according to Yahoo! Finance, at least one analyst has set a target price of $22.00 per share for 99 Cents stock. 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.

If you own the common stock of 99 Cents and purchased your shares before March 11, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at [phone], or by e-mail to [e-mail].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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