Law Offices of Howard G. Smith Announces Investigation of Parlux Fragrances, Inc.
29 Dicembre 2011 - 2:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Parlux Fragrances, Inc. (“Parlux” or the “Company”) (NASDAQ:PARL),
related to the Company’s agreement to be acquired by Perfumania
Holdings, Inc. (“Perfumania”). The proposed transaction is valued
at approximately $170 million.
Under the terms of the definitive merger agreement entered into
by the parties, Parlux stockholders, for each share of Parlux
common stock they own, may elect to receive either (i) $4.00 in
cash plus 0.20 shares of Perfumania common stock or (ii) 0.53333
shares of Perfumania common stock, both of which are subject to
certain adjustments in the merger agreement. The transaction is
expected to close in the first half of 2012. The investigation
concerns whether the board of directors of Parlux breached their
fiduciary duties to stockholders by failing to adequately shop the
Company before agreeing to enter into the proposed transaction, and
whether the Company has disclosed all material information to
shareholders about the transaction.
If you are a shareholder of Parlux, if you have information or
would like to learn more about these claims, or if you wish to
discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com
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