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TUESDAY DEADLINE REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Fred's Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

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The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Fred's Inc. ("Fred's" or "the Company") (NASDAQ: FRED) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Fred's entered into an agreement with Walgreens and Rite Aid Corp. to purchase 865 Rite Aid stores as a part of a merger plan between Walgreens and Rite Aid. The Company downplayed regulatory risk and disputed reports in the media that the merger was facing trouble. Fred's also represented that it had inside information from the FTC that the Walgreens deal would close. Walgreens and Rite Aid announced on June 29, 2017, that they had terminated their merger plans, including the store sale to Fred's. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Fred's, investors suffered damages.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

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