Law Firms Investigate the Board of Parlux (PARL) Concerning the Acquisition of PARL by Perfumania (PERF)

Attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Parlux Fragrances, Inc. (Nasdaq: PARL) to Perfumania Holdings (Nasdaq: PERF). 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.

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.

SOURCE Powers Taylor, LLP

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