Del. Judge Won't Stay Class Action Over Perfume Merger

Law360, New York (March 6, 2012, 7:45 PM EST) -- A Delaware judge on Monday refused to halt a putative shareholder class action over Perfumania Holdings Inc.'s proposed $170 million acquisition of Parlux Fragrances Inc. in favor of a previously filed Florida lawsuit also looking to block the deal.

Vice Chancellor Sam Glasscock III of Delaware Chancery Court noted the dispute's ties to Delaware and the early stage of the cases in both states and found no reason to stay the lawsuit of Parlux shareholder Jose Dias in deference to the Florida litigation, which began less...
To view the full article, register now.