This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

ValueClick, Inc. Sued By Investor

SAN DIEGO and WESTLAKE VILLAGE, Calif., Sept. 27, 2013 /PRNewswire/ --  Shareholder rights attorneys at Robbins Arroyo LLP announce that an investor of ValueClick, Inc. (NASDAQ: VCLK) has filed a complaint in the U.S. District Court for the Central District of California.  The complaint alleges that the company and certain of its officers violated the Securities Exchange Act of 1934 from February 14, 2013 to August 1, 2013 (the "Class Period").  ValueClick offers products and services that enable marketers to advertise and sell their products and services primarily through online and mobile display advertising, affiliate marketing, and comparison shopping channels.

(Logo: http://photos.prnewswire.com/prnh/20130103/MM36754LOGO)

ValueClick Accused of Making False and Misleading Statements

According to the complaint, ValueClick issued materially false and misleading statements and/or failed to disclose material facts about the company's prospects, organic growth, and its ability to integrate recently acquired companies.  Specifically, the Complaint alleges that certain company executives knew but concealed from ValueClick shareholders during the Class Period that: (i) ValueClick's recent revenue growth and profits were primarily attributable to acquired revenue streams rather than organic growth; (ii) ValueClick's Media segment revenues and profits were not growing because of the company's failure to effectively integrate the Dotomi, Inc. and Greystripe, Inc. acquisitions; and (iii)  ValueClick materially overstated the income and understated the costs of a note receivable.  As a result of these misrepresentations, ValueClick shares traded at artificially inflated prices during the Class Period.

ValueClick Stock Drops on Flat Media Sales and Revised Third Quarter Guidance

According to the complaint, on August 1, 2013, ValueClick announced its financial results for the second quarter ended June 30, 2013, reporting flat Media segment sales and below expected adjusted earnings.  For the quarter, ValueClick reported adjusted earnings of $0.39 per share on revenue of $159.8 million, rather than the adjusted earnings of between $0.38 and $0.40 per share on revenue of $164 million to $175.3 million the company had led investors to expect.  Further, citing continued muted sales in the company's Media segment, ValueClick lowered its estimated third quarter profits per share from $0.43 per share on revenues of $180 million, to $0.39 to $0.40 per share on revenues of $164 million to $168 million. The lawsuit asserts that this adverse information caused the price of ValueClick's stock to fall approximately 15%, or $3.73 per share, to close at $21.37 per share on August 2, 2013.

If you invested in ValueClick and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to http://www.robbinsarroyo.com.

Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/valueclick-inc/

Attorney Advertising. Past results do not guarantee a similar outcome.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs