An investigation on behalf of current long term investors in ValueClick Inc (NASDAQ:VCLK) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:VCLK stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/17/2013 -- An investigation on behalf of long-term investors, who currently hold shares of ValueClick Inc (NASDAQ:VCLK) was announced concerning whether certain directors and officers of ValueClick Inc breached their fiduciary duties and caused damage to the company and its shareholders.
Investors who are current long term investors in ValueClick Inc (NASDAQ:VCLK) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:VCLK stocks follows a lawsuit that was recently filed against ValueClick Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:VCLK stocks, concerns whether certain ValueClick officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. Central District of California the plaintiff alleges that ValueClick Inc violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.More specifically, the plaintiff alleges that the defendants allegedly failed to disclose and/or misrepresented adverse facts, including that ValueClick Inc was not effectively integrating certain of its acquisitions, that ValueClick Inc had failed to adequately record impairment of a note receivable, and that persistent operational weakness in ValueClick Inc's European operations and sales were weighing down revenue growth.
On August 1, 2013, ValueClick Inc announced its second quarter 2013 results. Among other things, ValueClick Inc also provided its guidance for the third quarter of 2013.
Shares of ValueClick Inc declined from $25.56 per share on August 1, 2013 to as low as $19.00 per share on October 8, 2013.
On December 16, 2013, NASDAQ:VCLK shares closed at $22.34 per share, which is significantly below the current 52 week High of $32.25 per share.
Those who purchased shares of ValueClick Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com