The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of Parlux Fragrances, Inc. Concerning the Acquisition of PARL

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  Published in House and Home on Tuesday, December 27th 2011 at 10:20 GMT by Market Wire
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Parlux Fragrances Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP... -- DALLAS, Dec. 27, 2011 /PRNewswire/ --

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DALLAS, Dec. 27, 2011 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the sale of Parlux Fragrances, Inc. ("Parlux" or "PARL") (Nasdaq: [ PARL ]) to Perfumania Holdings, Inc.  Under the proposed acquisition, for each share of Parlux/PARL common stock owned, Parlux shareholders may elect to receive either: (i) $4.00 in cash and 0.20 shares of Perfumania common stock, or (ii) 0.53333 shares of Perfumania common stock.  Based on Perfumania Holdings' closing price the day prior to the acquisition announcement, the value to Parlux shareholders is between $7.91 and $8.55, respectively.

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If you are an affected investor, and you want to learn more about the lawsuit or join the action, 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, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ].  There is no cost or fee to you.

Under the terms of the definitive acquisition agreement, this transaction has an approximate value of $170 million.  The transaction is expected to close in the first half of 2012.

The investigation centers on whether Parlux shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Parlux's stock, and whether Parlux's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.

[ The Briscoe Law Firm, PLLC ] 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.

SOURCE Powers Taylor, LLP

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