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Law firm investigates Arden Group buyout

BY Dan Berthiaume

Wilmington, Del. — Law firm Rigrodsky & Long, P.A is investigating potential legal claims against the board of directors of Arden Group, Inc. regarding possible breaches of fiduciary duties and other violations of law related to the company’s entry into an agreement to be acquired by global private investment firm TPG, in a transaction valued at approximately $394 million.

Under the terms of the agreement, public shareholders of Arden will receive $126.50 per share in cash for each share of Arden they own. The investigation concerns whether Arden’s board of directors failed to adequately shop the company and obtain the best possible value for Arden’s shareholders before entering into an agreement with TPG. Shareholders who own the common stock of Arden and purchased your shares before December 20, 2013 may be eligible to participate in potential legal claims.

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Rite Aid to assist customers with ACA prescription needs

BY Dan Berthiaume

Camp Hill, Penn. — Rite Aid will assist customers with prescription insurance coverage issues related to the Affordable Care Act which went into effect Jan. 1, 2014 and help ensure they are able to access prescription medications under their new plans. Rite Aid joins other pharmacy retailers including Wal-Mart and Walgreens in offering prescription assistance.

In circumstances where customers have enrolled but have not received their plan identification number from their insurance provider, Rite Aid pharmacy staff will work with these customers to verify their eligibility and help them utilize their new benefits. During January, for those customers who are enrolled in exchange-based plans but prescription benefit information is not yet available, Rite Aid pharmacists may dispense a 15 to 30-day supply of medication to these customers at no upfront cost until their prescription coverage details are available.

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99 Cents Only opens Waco, Texas store Jan. 9

BY Dan Berthiaume

City of Commerce, Calif. — 99 Cents Only Stores opens its first store in Waco, Texas on Thursday, Jan. 9. The new store is approximately 13,000 square feet and will feature a perishable food department, including produce, dairy and frozen foods.

99 Cents Only Stores currently operates 339 extreme value retail stores consisting of 244 stores in California, 45 in Texas, 33 in Arizona, and 17 in Nevada.

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