Class OK'd In Advo Securities Fight

Class OK'd In Advo Securities Fight - 3/31/2009 , Class Action News, Class Action, Securities News, shareholder class action, claim, litigation, securities action, common stock'>

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SETTLEMENT NEWS:

Class OK'd In Advo Securities Fight
Shannon Henson

Law 360. March 31, 2009
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EXCERPT: A judge has certified a class action alleging that direct-mail marketing product company Advo Inc. and some of its directors and officers issued false and misleading information in violation of federal securities law. In a ruling Friday, Judge Alfred V. Covello of the U.S. District Court for the District of Connecticut said that all of the proposed class members suffered damages as a result of purchasing Advo stock after relying on the allegedly false statements. The class includes all who bought or otherwise acquired stock in Advo, which has since merged with Valassis Communications Inc., from July 6, 2006, through Aug. 30, 2006. The allegations center around statements made about Advo's March 2006 incorporation of a new operating system, Service Delivery Redesign, and a contentious merger later that year with Valassis. … The case is Kelleher v. Advo Inc. et al., case number 06-cv-01422, in the U.S. District Court for the District of Connecticut.

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