Law Offices Of Howard G. Smith Announces Investigation On Behalf Of Shareholders Of Playboy Enterprises, Inc.

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Playboy Enterprises, Inc. (“Playboy” or the “Company”) (NYSE:PLA,PLA-A) related to a proposal from Playboy founder Hugh M. Hefner (“Hefner”) to take the Company private. The proposed cash transaction is valued at approximately $185 million.

Under the terms of the proposed transaction, Hefner will acquire all of the outstanding shares of Class A and Class B common stock of Playboy he does not currently own for $5.50 per share in cash. Hefner currently owns 69.5% of Playboy's Class A common stock and 27.7% of Playboy's Class B common stock. In his proposal to the Company’s board of directors, Hefner stated he is not interested in any sale or merger of Playboy, selling his shares to any third party, or entering into discussions with any other financial sponsor for a transaction of the nature proposed by Hefner. The investigation concerns possible breaches of fiduciary duty and other violations of law related to consideration of the proposal by Playboy’s board of directors.

If you own shares of Playboy, 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 [phone], Toll Free at [phone], or by email to [e-mail], or visit our website at http://www.howardsmithlaw.com.

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