Faruqi & Faruqi, LLP Announces Investigation of Parlux Fragrances Inc.
27 Diciembre 2011 - 6:00PM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Parlux Fragrances Inc. (“Parlux” or the “Company”)
(NASDAQ: PARL) for potential breaches of fiduciary duties in
connection with their conduct related to the sale of the Company to
Perfumania Holdings, Inc. (“Perfumania”) (NASDAQ: PERF) in a cash
and stock deal valued at about $174.62 million. Under the terms of
the proposed transaction, Parlux stockholders can choose to take
either (a) $4.00 in cash and 0.20 share of Perfumania, or (b)
0.53333 of a share of the acquirer. The deal values Parlux at $6.65
to $7.06 per share, based on Perfumania’s $13.23 closing price on
December 27, 2011.
Request more information now by clicking here:
www.faruqilaw.com/PARL.
Whether Parlux’s Board of Directors breached their fiduciary
duties to the Company’s stockholders by failing to conduct an
adequate and fair sales process prior to agreeing to this proposed
transaction, whether the proposed transaction undervalues Parlux’s
shares and by how much this proposed transaction undervalues the
Company to the detriment of Parlux’s shareholders are the key focus
of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Parlux and wish to obtain additional
information, please visit us at www.faruqilaw.com/PARL or contact
Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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