Family Dollar Stores Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by

  Family Dollar Stores Shareholder Alert: Briscoe Law and Powers Taylor
  Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

Business Wire

DALLAS -- March 6, 2013

Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed against Family Dollar Stores, Inc. (“Family Dollar” or “Company”)
(NYSE: FDO). The firms are investigating additional legal claims against the
officers and Board of Directors of Family Dollar during the period of October
3, 2012 to January 2, 2013 (the “Class Period”).

If you are an affected investor and you want to learn more about the lawsuit
or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC,
(214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary
Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
zach@powerstyalor.com. There is no cost or fee to you.

In a recently filed federal class action complaint, Family Dollar and certain
of its officers and directors were charged with violating certain provisions
of the Securities Exchange Act of 1934. Specifically, the complaint alleges
that among other things, defendants’ misrepresented and/or failed to disclose
that: (a) the Company’s intentional efforts to increase sales of certain
consumables to better compete with particular competitors significantly
diminished profits in the first quarter of 2013 and in December 2012; (b)
significant price cuts made in an attempt to move unsalable items diminished
profits for the first quarter of 2013 and December 2012; (c) the Company’s
sales of more profitable items significantly underperformed expectations in
the first quarter of 2013 and during December 2012; (d) inflated inventories
in stores would significantly weigh down profitability in 2013; (e) despite
defendants’ press releases on November 20, 2012 and December 24, 2012, the
stores would actually be open in an attempt to boost declining sales; and (f)
based on the above, defendants lacked a reasonable basis for their positive
statements regarding the Company’s sales and profitability during the Class
Period. According to the complaint, when the true facts were discovered, the
price of Family Dollar stock fell significantly.

Shareholder rights attorney Willie Briscoe said, “Recent revelations about
alleged improper business practices and procedures regarding key aspects of
Family Dollar’s business and other misleading financial statements have
prompted the firms to investigate possible breaches of fiduciary duties and
other violations of state law by Family Dollar’s officers and directors. Based
on our investigation, we are prepared to pursue litigation to preserve the
company and the value of Family Dollar stock for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public 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.

Contact:

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zachary Groover, 877-728-9607
zach@powerstyalor.com
 
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