SHAREHOLDER ALERT: Levi & Korsinsky, LLP Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of IParty Corp. In Connection With The Sale Of The Company To Party City Holdings Inc.

Levi & Korsinsky is investigating the Board of Directors of iParty Corp. (“iParty” or the “Company”) (NYSE: IPT) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Party City Holdings Inc.

Click here to learn how to join the action: http://zlk.9nl.com/iparty-ipt/, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, iParty shareholders will receive $0.45 for each share of iParty common stock they own and the greater of liquidation preference or conversion value for each share of iParty Preferred Stock. The investigation concerns whether the iParty Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Party City Holdings Inc. is underpaying for iParty shares, thus unlawfully harming iParty stockholders.

If you own common stock in iParty and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/iparty-ipt/.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Copyright Business Wire 2010

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