The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of FDO

Levi & Korsinsky is investigating the Board of Directors of Family Dollar Stores, Inc. (“Family Dollar” or the “Company”) (NYSE: FDO) for possible breaches of fiduciary duty in connection with the receipt of an acquisition proposal from Trian Group, the investment firm of Nelson W. Peltz.

New York, NY, February 21, 2011 -- Levi & Korsinsky is investigating the Board of Directors of Family Dollar Stores, Inc. (“Family Dollar” or the “Company”) (NYSE: FDO) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of an acquisition proposal from Trian Group, the investment firm of Nelson W. Peltz. Under the terms of the proposed transaction, Family Dollar stockholders would receive between $55 and $60 per share of Family Dollar stock they own. Trian Group currently owns approximately 8% of the outstanding Family Dollar stock. Trian has also indicated that it has asked FDO’s Chairman and CEO, Howard Levine, who owns 7.5% of FDO’s common stock, participate as an investor alongside the Trian Group.

Click here to learn more about the investigation: http://www.zlk.com/family-dollar-fdo.html, or call: 877-363-5972.

The investigation concerns whether the Family Dollar Board of Directors is adequately shopping the Company in order to obtain the best possible deal for Family Dollar’s shareholders. In particular, at least one analyst set a price target of $63 per share for Family Dollar stock.

If you own common stock in Family Dollar and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/family-dollar-fdo.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com

Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com

This release was published on openPR.