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Tue, January 10, 2012Mon, January 9, 2012Sat, January 7, 2012Fri, January 6, 2012Thu, January 5, 2012Wed, January 4, 2012Tue, January 3, 2012Mon, January 2, 2012Fri, December 30, 2011Thu, December 29, 2011Wed, December 28, 2011Tue, December 27, 2011Mon, December 26, 2011Fri, December 23, 2011Thu, December 22, 2011Wed, December 21, 2011Tue, December 20, 2011Mon, December 19, 2011Sun, December 18, 2011Fri, December 16, 2011Thu, December 15, 2011Wed, December 14, 2011Tue, December 13, 2011Mon, December 12, 2011The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Parlux F
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Published in House and Home on Tuesday, December 27th 2011 at 11:16 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible... -- NEW YORK, Dec. 27, 2011 /PRNewswire/ --
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Parlux Fragrances, Inc. in Connection with the Sale of the Company to Perfumania Holdings, Inc.
NEW YORK, Dec. 27, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Parlux Fragrances, Inc. ("Parlux" or the "Company") (Nasdaq: [ PARL ]) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Perfumania Holdings, Inc. ("Perfumania") (Nasdaq: PERF). Under the terms of the transaction, Parlux shareholders will receive either (a) $4.00 in cash plus 0.20 shares of Perfumania common stock or (b) 0.53333 shares of Perfumania common stock. Based on Perfumania's $19.55 per share closing price on December 22, 2011, and based on stockholder elections, the transaction values Parlux stock between $7.91 and $8.55 per share for a total transaction valued of approximately $170 million.
Click here to learn how to join the action: [ http://www.zlk.com/parlux-frangrances-parl ], or call: 877-363-5972.
The investigation concerns whether the Parlux Board of Directors breached their fiduciary duties to Parlux stockholders by failing to adequately shop the Company before entering into this transaction and whether Perfumania is underpaying for Parlux shares, thus unlawfully harming Parlux stockholders.
If you own common stock in Parlux and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or [ http://www.zlk.com ].
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
[ www.zlk.com ]
SOURCE Levi & Korsinsky, LLP
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