The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of 99 Cents Only Stores

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the acquisition of 99 Cents Only Stores (“99 Cents Stores” or “NDN”) (NYSE:NDN) by affiliates of Ares Management LLC and Canada Pension Plan Investment Board. Under the terms of the proposed agreement, 99 Cents Stores shareholders will receive only $22.00 in cash for each share of 99 Cents Stores/NDN stock held, which is well below the target price announced by analysts. “We believe that the transaction may significantly undervalue 99 Cents Stores stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,” said shareholder rights attorney Willie Briscoe.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free [phone], via e-mail at [e-mail], or Willie Briscoe at The Briscoe Law Firm, PLLC, [phone], or via email at [e-mail]. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $1.6 billion. The transaction is expected to be completed in the first quarter of 2012.

Although 99 Cents Stores has reported that the acquisition price represents an approximate 32% premium over the company’s closing price the day before the merger proposal was announced, NDN stock traded as high as $18.90 per share as recently as early October 2010. In addition, at least one analyst has set a target price of $24.50 for NDN shares. “Based on these and other factors, we are investigating the fairness of the proposed transaction to 99 Cents Stores shareholders, whether the shareholders are being underpaid for their stock, and whether 99 Cents Stores’ Board of Directors acted in the shareholders’ best interest,” said Briscoe.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.