The Law Firm of Weiss & Lurie Investigates the Acquisition of Jo-Ann Stores, Inc.

Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Jo-Ann Stores, Inc. (NYSE: JAS) arising from the proposed acquisition of Jo-Ann by an affiliate of Leonard Green & Partners LP.

Under the terms of the transaction, Jo-Ann shareholders will receive $61 for each share of Jo-Ann. The total value of the transaction is approximately $1.6 billion and is expected to close by the first half of 2011.

Weiss & Lurie is investigating whether Jo-Ann’s Board acted in the best interests of shareholders approving the transaction and whether Jo-Ann’s Board properly sought to maximize shareholder value. Jo-Ann has posted strong results in recent quarters, reporting no outstanding debt at the end of the third quarter, and higher margins and sales leading the company to boost its full-year earnings view for the third time and accelerate its plans for new store openings and remodels.

If you own Jo-Ann shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at infony@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at infony@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.

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Jo Ann Stores (NYSE:JAS)
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