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Case Status:    DISMISSED    
On or around 12/23/2013 (Notice of voluntarily dismissal)

Filing Date: September 24, 2013

According to the law firm press release, ValueClick is an online advertising company, which provides online advertising campaigns and programs for advertisers and advertising agency customers in the United States and internationally. ValueClick has three operating segments: Media, Affiliate Marketing and Owned & Operated Websites.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements about ValueClick’s business and prospects. Specifically, defendants failed to disclose and/or misrepresented adverse facts, including that ValueClick was not effectively integrating certain of its acquisitions, that ValueClick had failed to adequately record impairment of a note receivable, and that persistent operational weakness in ValueClick’s European operations and sales were weighing down revenue growth.

On August 1, 2013, after the close of trading, ValueClick issued a press release announcing its second quarter 2013 financial results for the quarter ended June 30, 2013. Instead of the high single-digit sales growth defendants had stated ValueClick was on track to deliver on May 7, 2013, ValueClick reported flat Media sales in the second quarter of 2013. Instead of the adjusted earnings of between $0.38 and $0.40 per share on revenues in the range of $164 to $175.3 million ValueClick had stated it was on track to achieve on May 7, 2013, ValueClick reported adjusted earnings of $0.39 per share on revenues of just $159.8 million. On this news, the price of ValueClick common stock, which had traded as high as $32.25 per share in intraday trading during the Class Period, declined more than 33% from that level to close at $21.37 per share on August 2, 2013.

On December 23, 2013, the Plaintiff filed a Notice voluntarily dismissing this case.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Specialty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VCLK
Company Market: NASDAQ
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: C.D. California
DOCKET #: 13-CV-07084
JUDGE: Hon. Otis D. Wright, II
DATE FILED: 09/24/2013
CLASS PERIOD START: 02/14/2013
CLASS PERIOD END: 08/01/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer Holzer & Fistel, LLC (Atlanta)
    200 Ashford Center North, Suite 300, Holzer Holzer & Fistel, LLC (Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
  2. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
No Document Title Filing Date