BigClassActions.com
Advertisement

Parlux Fragrances Inc.



Parlux Fragrances Inc. NASD: PARL has been accused of securities fraud. If you are a current or former employee or are a member of any of Parlux Fragrances Inc. investment plans or profit sharing retirement plans you may be included in this possible Parlux Fragrances Inc. 401K or Employee Retirement Income Security Act (ERISA) class action. If you purchased or held Parlux Fragrances Inc. stock in one of those plans during the periods February 8, 2006 to August 10, 2006, you may have a claim.

Under ERISA, Parlux Fragrances Inc. employees can file a lawsuit against the company for putting stock options at risk. Parlux Fragrances Inc. employees have a claim if they can prove their employer violated its fiduciary duty to its employees. Fiduciary duty refers to a company's responsibility to the people who invest in it. If an employer puts the company's interest ahead of the investors', it has broken its fiduciary duty. A fiduciary is a person that exercises discretion over the management of plan assets or exercises discretionary control over the administration of the plan.

ERISA is a federal law that sets minimum standards for pension and health plans set up by private businesses. ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company. Stock options are a form of compensation in which employees are given the opportunity to purchase shares of the company stock at a certain price.

Register your Parlux Fragrances Inc. 401K / ERISA Complaint

If you have suffered from Parlux Fragrances Inc. 401K plan losses, you may qualify for damages or remedies that may be awarded in a possible Parlux Fragrances Inc. ERISA class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your ERISA complaint.


Maybe it's your stockbroker

Add Your Comment on This Issue

Please read our comment guidelines before posting.


Note: Your name will be published with your comment.


Your email will only be used if a response is needed.

Request Legal Help