ValueClick Strikes $10M Deal In Securities Action

Law360, New York (June 15, 2009, 12:00 AM EDT) -- ValueClick Inc. has agreed to pay $10 million to settle a putative securities class action accusing the online advertiser of inflating its stock price by failing to disclose illegal marketing practices in one of its divisions.

The settlement, if approved, would resolve allegations that the Westlake Village, Calif.-based company tricked Internet users into signing up for false promotions as a way to generate sales leads for its customers and, in turn, grow its own stock price.

The parties have asked the court to grant preliminary approval...
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