The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor LLP are investigating potential legal claims against the Board of Directors of Jo-Ann Stores, Inc. (?Jo-Ann Stores? or ?JAS?) (NYSE: JAS) related to the proposed buyout of Jo-Ann Stores by an affiliate of the private equity firm Leonard Green & Partners, LP. The investigation relates to the potential unfairness of the proposed transaction, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Jo-Ann Stores for approving this transaction, and whether Jo-Ann Stores' Board of Directors acted in the shareholders' best interests and fully disclosed all material aspects of the proposed transaction.

The definitive acquisition agreement, which was announced on December 23, 2010, involves a transaction valued at approximately $1.6 billion that is expected to close in the first half of calendar year 2011. Under the proposed buyout, Jo-Ann Stores shareholders will receive a cash payment of $61.00 for each share of Jo-Ann Stores/JAS common stock they hold. ?Jo-Ann Stores' Board of Directors have approved the acquisition agreement and recommended it to the shareholders. However, we are concerned whether the acquisition is in the best interests of Jo-Ann Stores' shareholders,? said shareholder rights attorney Willie Briscoe.

If you currently own shares of Jo-Ann Stores/JAS and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights 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.

Powers Taylor LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 877-397-5991
WBriscoe@TheBriscoeLawFirm.com