Company Website: http://www.rigrodskylong.com
WILMINGTON, Del. -- (Business Wire)

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Parlux Fragrances, Inc. (“Parlux” or the “Company”) (Nasdaq: PARL) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Perfumania Holdings, Inc. (“Perfumania”) in a transaction with an approximate value of $170 million.

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Under the proposed agreement, Parlux stockholders may elect to receive, for each share of Parlux common stock that they own, either (i) $4.00 in cash plus 0.20 shares of Perfumania common stock or (ii) 0.53333 shares of Perfumania common stock. Based on Perfumania’s closing stock price of $19.55 per share on December 22, 2011, and depending on the stockholder elections described above, the merger agreement values a share of Parlux stock at between $7.91 and $8.55.

The investigation concerns whether Parlux’s board of directors adequately shopped the Company to obtain the best price possible for Parlux shareholders before entering into the agreement with Perfumania.

If you own the common stock of Parlux and purchased your shares before December 23, 2011, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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Contacts:

Rigrodsky & Long, P.A.
Seth D. Rigrodsky, Esquire
Noah R. Wortman, Case Development Director
888-969-4242
302-295-5310
Fax: 302-654-9430
info@rigrodskylong.com
http://www.rigrodskylong.com

Source: Rigrodsky & Long, P.A.