House & Home
Thu, December 29, 2011
BALA CYNWYD, Pa.--([ BUSINESS WIRE ])--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Parlux Fragrances, Inc. (aParluxa or the aCompanya) (Nasdaq: PARL) relating to the proposed acquisition by Perfumania Holdings, Inc (aPerfumaniaa).
Under the terms of the transaction, Parlux shareholders would receive either $4.00 in cash and 0.20 shares of Perfumania common stock or 0.53333 shares of Perfumania common stock for each share of Parlux stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Parlux for not acting in Parlux shareholders' best interests in connection with the sale process to Perfumania. Consequently, following the merger, the Nussdorf family, members of which are the beneficial owners of approximately 82% of Perfumania outstanding shares and 11% of Parluxas outstanding shares, are expected to continue to own a majority of Perfumaniaas outstanding shares.
If you own shares of Parlux and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at [ investorrelations@brodsky-smith.com ], visiting [ http://brodsky-smith.com/378-parl-parlux-fragrances-inc.html ], or by calling toll free 877-LEGAL-90.