Ryan & Maniskas, LLP Announces Investigation of Physicians Formula Holdings Inc.

Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/face) is investigating potential claims against the board of directors of Physicians Formula Holdings Inc. (“Physicians Formula” or the “Company”) (NASDAQ: FACE) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell Physicians Formula to affiliates of Swander Pace Capital in a transaction valued at approximately $65 million.

Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Physicians Formula. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at [phone] or by email at [e-mail] or visit: www.rmclasslaw.com/cases/face.

Under the terms of the transaction, Physicians Formula shareholders will receive $4.25 per share of Physicians Formula stock they own.

If you own shares of Physicians Formula and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at [phone] or to sign up online, visit: www.rmclasslaw.com/cases/face. You may also email Mr. Maniskas at [e-mail]. For more information about class action cases in general, please visit our website: www.rmclasslaw.com.

Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.