May 10, 2012 (Shareholders Foundation) -- An investigation on behalf of investors in NASDAQ:CPWM shares concerning whether the offer by Bed Bath & Beyond Inc. to take over Cost Plus, Inc. at $22.00 per share and the takeover process are unfair to investors in NASDAQ:CPWM was announced.

The investigations by law firms concern whether certain officers and directors of Cost Plus, Inc. breached their fiduciary duties owed to (NASDAQ:CPWM investors in connection with the proposed acquisition.

On May 9, 2012, Bed Bath & Beyond Inc. (NASDAQ: BBBY) and Cost Plus, Inc. (NASDAQ: CPWM) announced that they have entered into an agreement under which Bed Bath & Beyond Inc. will acquire Cost Plus, Inc. in an all cash transaction. Bed Bath & Beyond Inc. has agreed to make a cash tender offer for all outstanding shares of Cost Plus, Inc. common stock at a price of $22 per share, followed by a merger in which all shareholders that have not tendered would receive the same consideration.

Shares of Cost Plus, Inc. (NASDAQ:CPWM) jumped from $17.94 per share in May 8, 2012 to $21.92 per share on May 9, 2012.

However, Bed Bath & Beyond Inc. has already entered into agreements with Red Mountain Capital Partners LLC and Stephens Investment Holdings LLC, the two largest shareholders of Cost Plus, Inc. pursuant to which each shareholder has committed to tender all of their shares, which in aggregate comprise approximately a 26% interest in Cost Plus, Inc., into the offer, subject to certain conditions.

Furthermore, Cost Plus financial performance improved over the past recent years. Its Total Revenue rose from $867.04million for the 52weeks period ending on Jan 30, 2010 to $963.83million for the 52weeks period ending on Jan 28, 2012 and its Net Income for the respective time periods increased from a Net Loss of $63.32million to a Net Income of $16.50million.

Therefore the investigation for NASDAQ:CPWM investors concerns whether the proposed transaction is unfair to Cost Plus stockholders. Specifically, the investigation focuses on whether the Cost Plus Board of Directors undertook an adequate sales process, in particularly adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.