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The Los Angeles Times reports on two class action suites filed against 99 Cents Only Stores, complaining that the company is engaging in unfair and deceptive business practices and misleading advertising because it has raised prices on some items to 99.99 cents...which translates to charging $1 for some SKUs.

Eric Schiffer, CEO of 99 Cents Only, defended the company, saying that he “took every possible effort and avenue to basically bombard the consumer about our increase ... We changed all the signs, we have a large poster in the window of every store explaining the increase, we put it in our ads in the newspaper, we put it on the radio. Never mind the fact that the price increase was a very tiny amount, as we all know. So I don't think consumers were misled.”

A judge reportedly will decide soon whether the class action suits can go forward.
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