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Case Status:    DISMISSED    
On or around 03/14/2005 (Date of order of final judgment)

Filing Date: October 22, 2004

According to the Stipulated Order, dated March 10, 2005, the action against Defendants Valassis Communications, Inc. and certain Individual Defendants was voluntarily dismissed without prejudice by the Lead Plaintiffs, without costs or any attorney’s fees to any party.

The Complaint alleges that Valassis, a company that prints, markets and distributes coupons and newspaper advertising inserts, and certain of its officers and directors issued materially false statements concerning Valassis' performance and future prospects, causing Valassis' shares to trade at artificially inflated levels. Specifically, defendants knew, but failed to disclose: (i) that the price increase implemented by the Company in 2001 in its free-standing inserts business and then retracted in February 2002 was negatively impacting the Company's ability to win contracts; (ii) that the Company was experiencing increased competition from News America who was offering customers lower prices and longer contract terms; and (iii) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and their earnings forecasts which were false when made.

The complaint further alleges that on October 24, 2002, Valassis released its financial and operational results for the third quarter ended September 30, 2002, and shocked the market when it announced that it would dramatically lower its earnings' guidance for 2003 to $2.22 per share, well below analysts' consensus of $2.70 per share. On this news, Valassis stock fell from a close of $34.96 on October 23, 2002 to a close of $26.01, a decline of more than 25%.

COMPANY INFORMATION:

Sector: Services
Industry: Advertising
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VCI
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. Michigan
DOCKET #: 04-CV-74127
JUDGE: Hon. Lawrence P Zatkoff
DATE FILED: 10/22/2004
CLASS PERIOD START: 04/25/2002
CLASS PERIOD END: 10/23/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Brian M. Felgoise, P.C.
    Esquire at 261 Old York Road, Suite 423, Law Offices of Brian M. Felgoise, P.C., PA 19046
    215.886.1900 · securitiesfraud@comcast.net
  2. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  3. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  4. Shepherd, Finkelman, Miller & Shah, LLC
    35 East State Street, Shepherd, Finkelman, Miller & Shah, LLC, PA 19063
    877.891.9880 · jshah@classactioncounsel.com
No Document Title Filing Date
COURT: E.D. Michigan
DOCKET #: 04-CV-74127
JUDGE: Hon. Lawrence P Zatkoff
DATE FILED: 02/21/2005
CLASS PERIOD START: 04/26/2002
CLASS PERIOD END: 10/23/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Miller Shea, P.C.
    1301 W Long Lake Rd, Ste 135, Miller Shea, P.C., MI 48098
    248.267.8200 248.267.8200 · info@millershea.com
No Document Title Filing Date