Investor Seeks Auction for 99 Cents Only

ARLINGTON, Va. — FBR here, a mutual fund that owns approximately 5.5% of the stock of Los Angeles-based 99 Cents Only Stores, urged the company on Monday to conduct an auction process rather than accept a buyout bid at a price it believes is less than the company is worth.

ARLINGTON, Va. — FBR here, a mutual fund that owns approximately 5.5% of the stock of Los Angeles-based 99 Cents Only Stores, urged the company on Monday to conduct an auction process rather than accept a buyout bid at a price it believes is less than the company is worth.

At issue is a bid of $19.09 per share proposed by the Schiffer/Gold family, which owns the majority shares in 99 Cents Only, in c

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