Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against ValueClick, Inc. (“ValueClick” or “Company”) (NasdaqGS: VCLK). The firms are investigating additional legal claims against the officers and Board of Directors of ValueClick during the period of February 14, 2013 and August 1, 2013 (the “Class Period”).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor LLP, toll free (877) 728-9607, or via email at email@example.com. There is no cost or fee to you.
In a recently filed federal class action complaint, ValueClick and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants’ misrepresented and/or failed to disclose that: (i) ValueClick had grown its revenues and profits over the past several quarters primarily through acquiring revenue streams and was not experiencing organic growth during the Class Period; (ii) ValueClick was not effectively integrating the Dotomi and Greystripe acquisitions and as such revenues and profits were not growing, exponentially or otherwise, in its Media segment; (iii) the endemic sales execution problems in the Media segment were reducing sales; (iv) that persistent operational weakness in ValueClick’s European operations and sales were weighing down revenue growth; (v) disruptions in the CJ subsidiary were driving down Affiliate Marketing revenues and preventing ValueClick from taking advantage of Google’s departure from the Affiliate Marketing market; and (vi) the Note Receivable was materially impaired and, therefore, ValueClick’s assets and income were being materially overstated and its costs were being materially understated. According to the complaint, when the truth was revealed to the public, ValueClick’s stock dropped dramatically.