San Diego, CA -- (SBWIRE) -- 01/15/2014 -- An investor who currently holds NASDAQ:VCLK shares filed a lawsuit against directors of ValueClick Inc over alleged breaches of their fiduciary duties.
Investors who are current long term investors in ValueClick Inc (NASDAQ:VCLK) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties and caused the share price of ValueClick Inc to artificially increase by issuing false and misleading statements.
ValueClick Inc currently faces a lawsuit over alleged securities laws violations. 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 January 13, 2014, NASDAQ:VCLK shares closed at $22.43 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.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego