Law Offices of Howard G. Smith Announces Investigation of Parlux Fragrances, Inc.

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

Parlux Fragrances, Inc. (MM) (NASDAQ:PARL)
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