HARTFORD, Conn., Aug. 22, 2007 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of all persons who purchased the common stock of ValueClick, Inc. ("ValueClick") (Nasdaq:VCLK) between November 1, 2006 and July 27, 2007 (the "Class Period").
The Complaint charges that ValueClick, its former Chief Executive Officer and its Chief Administrative Officer violated federal securities laws by making false and misleading statements regarding ValueClick's financial results and prospects. Specifically, the Complaint alleges that ValueClick had been violating the CAN-SPAM Act of 2003 (Controlling the Assault of Non-Solicited Pornography and Marketing Act) and that when it halted such practices as a result of a Federal Trade Commission ("FTC") investigation announced in May 2007, its second quarter financial results fell short of ValueClick's prior forecast.
If you are a member of the class, you may, no later than October 16, 2007, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).
While Schatz Nobel Izard P.C. has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz Nobel Izard P.C. toll free at (800) 797 5499, or by e mail at firm@snilaw.com, or visit our website: www.snilaw.com.