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ValueClick Inc (NASDAQ:VCLK) Investor Files Securities Class Action Lawsuit Over Alleged False And Misleading Statements

  • If you purchased shares of ValueClick Inc (NASDAQ:VCLK), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
ValueClick
Security
NASDAQ: VCLK

Case Name
ValueClick Shareholder Class Action Lawsuit 09/24/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

December 23, 2013 - The case was voluntarily dismissed.

September 24, 2013 (Shareholders Foundation) - An investor, who purchased shares of ValueClick Inc (NASDAQ:VCLK), filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by ValueClick Inc in connection with certain allegedly false and misleading statements made between February 14, 2013 and August 1, 2013.

According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of ValueClick Inc (NASDAQ:VCLK) between February 14, 2013 and August 1, 2013, that ValueClick Inc and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that the defendants allegedly failed to disclose and/or misrepresented adverse facts, including that ValueClick Inc was not effectively integrating certain of its acquisitions, that ValueClick Inc had failed to adequately record impairment of a note receivable, and that persistent operational weakness in ValueClick Inc's European operations and sales were weighing down revenue growth. ValueClick Inc reported that its annual Total Revenue rose from $422.72 million in 2009 to $660.88 million in 2012 and that its respective Net Income increased from $68.62 million to $101.72 million. Shares of ValueClick Inc (NASDAQ:VCLK) grew from $5.84 per share in March 2009 to as high as $31.87 per share in May 2013.

Then on August 1, 2013, ValueClick Inc announced its second quarter 2013 results. Among other things, ValueClick Inc also provided its guidance for the third quarter of 2013. Shares of ValueClick Inc (NASDAQ:VCLK) dropped from $25.56 per share on August 1, 2013 to $20.36 per share on August 7, 2013.

On Sept. 24, 2013, NASDAQ:VCLK shares closed at $20.87 per share.