After rumors about a potential sale of Big Lots, Inc. emerged an investigation on behalf of investors of Big Lots, Inc. (NYSE:BIG) over possible breaches of fiduciary duty was announced.

The investigation by a law firm concerns whether certain directors and officers at Big Lots, Inc. (NYSE:BIG) or others breached or will breach their fiduciary duties in connection with a potential takeover and also in the event of a buyout.

Shares of Big Lots, Inc. (Public, NYSE:BIG) increased from roughly $30 in the beginning in 2011 to $39.20 on Feb. 7 and to $41.57 on Feb. 11 after media reports emerges saying the discount retailer is exploring strategic options with Goldman Sachs, including a possible sale. One media report said that Big Lots, Inc has been approached by Thomas H. Lee Partners and Bain Capital.

Therefore the investigation monitors and concerns whether the Big Lots Board of Directors will undertake an adequate and fair sales process in the event of a takeover to obtain the maximized consideration for all shareholders of Big Lots, Inc. (NYSE:BIG) and will breach their fiduciary duties to Big Lots (BIG) shareholder by failing to adequately shop the Company before entering into any transaction.
Big Lots performance for its shareholders was increasing. Big Lots reported over the past four 52/53weeks filing periods stable Total Revenues ranging from $4.645billion to $4.743billion. Its Net Income, however, increased from $124.05million to lately $201.37million.

A potential class action lawsuit would seek to maximize the amount of money and information NYSE BIG shareholders would receive in a buyout, so the law firm.