Berger & Montague, P.C. Files a Class Action Against Revlon, Inc.  and certain of its Officers and Directors.

PHILADELPHIA, PA, December 31, 2009 (PRNEWSWIRE) -- The law firm of Berger & Montague, P.C. has filed a class action in the U.S. District Court for the District of Delaware that would include all shareholders who tendered their Class A Common Stock for conversion to Series A preferred stock pursuant to Revlon’s exchange offer (“Exchange Offer”) of September 24, 2009, effectuated October 8, 2009 (the “Class”).

Investors who held Revlon  (“Revlon” or the “Company”) (NYSE: REV) and converted their shares to Series A preferred stock pursuant to Revlon’s offer materials of September 24, 2009 (“Offer Materials”) may move the Court to appoint them as lead plaintiff, no later than March 1, 2010.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Investors in Revlon who wish to discuss this action or the lead plaintiff selection process may contact Lawrence Deutsch, Esq. or Robin Switzenbaum, Esq. of Berger & Montague, P.C., toll free at 1-888-891-2289, or by e-mail at ldeutsch@bm.net or rswitzenbaum@bm.net . A copy of the class action complaint can be viewed on Berger & Montague, P.C.’s website at www.bergermontague.com or may be viewed online via the U.S. PACER system or requested from the Court.  The case is John Garofalo, et al v. Revlon, Inc., et al.  Defendants are Revlon, Inc., Ronald O. Perelman, MacAndrews & Forbes Holdings Inc., Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert and Kenneth L. Wolfe

Revlon is a wholly owned subsidiary of Revlon Consumer Products Corporation (“RCPC”), that engages in the manufacturing,  marketing and sale of cosmetics, women’s hair color, beauty tools, fragrances, skin care, deodorants and other personal care products.

The complaint alleges that Revlon and certain of its officers and directors violated the federal securities laws and Delaware state law by omitting to disclose material information from those persons who tendered their shares into Revlon’s September 24, 2009 Exchange Offer, pursuant to which Revlon offered to exchange each outstanding share of its Class A common stock (“Common Stock”) for one share of a newly issued series of Revlon Series A preferred stock.  The Exchange Offer was the outgrowth of a proposal by Revlon’s controlling stockholders, MacAndrews & Forbes Holdings Inc. and certain of its affiliates, to acquire all of the shares of Revlon’s common stock they did not already own.  Following the October 8, 2009 consummation of the Exchange Offer, pursuant to which the members of the Class tendered 9,336,905 shares of Revlon Class A common stock for shares of Series A Preferred, Revlon announced stellar financial results for its quarter ended September 30, 2009 (“Third Quarter 2009”) causing the Company’s Class A common stock price to rise by over 300%. 

The complaint further alleges that despite the fact that the Exchange Offer closed only a week after Revlon’s Third Quarter 2009, its stockholders were not provided with material information about the Company’s expected positive results possessed by defendants in the Offer Materials.  The tendering stockholders were entitled to receive such critical information before deciding whether to exchange their common stock.  Plaintiff seeks damages on behalf of a class for the losses they suffered as a result of defendants’ non-disclosure of material facts and breaches of their fiduciary duties.  Plaintiff is seeking  remedies under §§ 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Rule 14a-9 promulgated thereunder by the SEC, and under Delaware state law.

As a result of the Defendants’ failure to properly disclose all relevant information, plaintiff and other members of the Class have been damaged since they did not receive their proportionate share of the value of the Company’s profits, assets and business when they tendered their Common Stock in the Exchange Offer.

If you purchased Revlon, Inc. securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:

Lawrenc Deutsch
Kimberly A. Walker, Investor Relations Manager
Berger & Montague, P.C.
1622 Locust Street
Philadelphia, PA 19103
Phone: 888-891-2289 or 215-875-3000
Fax: 215-875-5715
e-mail: InvestorProtect@bm.net