NEW YORK, Sept. 15, 2006 (PRIMEZONE) -- Roy Jacobs & Associates announces that a lawsuit has been filed in the United States District Court for the District of Connecticut, on behalf of persons who purchased or otherwise acquired publicly traded securities of ADVO, Inc. ("ADVO" or the "Company") (NYSE:AD) from July 6, 2006 through August 30, 2006, (the "Class Period"). The lawsuit was filed against ADVO and certain officers and directors (the "Defendants").
For further information you may call toll free, 1-800-347-1236, or contact counsel by e-mail by writing to classattorney@pipeline.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice. Until a class is certified in this action you are not represented by counsel.
The complaint alleges that Defendants violated the federal securities laws. Specifically, the complaint alleges that during the Class Period, Defendants issued a series of materially false and misleading statements with respect to ADVO's business and financial results, and concealed material adverse business problems. Defendants concealed this information in order to accomplish a merger that the Company entered into with Valassis Communications, Inc. ("Valassis").
As a result of the Defendants' allegedly false statements, investors believed that the acquisition would occur, causing ADVO's stock to trade at inflated levels during the Class Period. On August 30, 2006, Valassis announced that it had filed a lawsuit to rescind its merger agreement with ADVO, claiming that it had been deceived by Defendants. The market was shocked by this news, and in reaction, ADVO shares fell from $36.80 per share to $28.59 per share.
If you purchased ADVO stock or other securities during the Class Period, you may qualify to serve as Lead Plaintiff on behalf of the Class, which consists of all persons and entities who purchased ADVO stock or other securities from July 6, 2006 through August 30, 2006. You are not required to have sold your ADVO stock or other securities in order to claim damages, or to serve in this role. All motions for appointment as Lead Plaintiff must be filed with the Court by November 10, 2006.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Roy L. Jacobs. Mr. Jacobs will personally speak with you at no cost or obligation.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca