Advo Strikes $12.5M Deal In Securities Class Action

Law360, New York (October 29, 2009, 12:47 PM EDT) -- Direct mail marketing products company Advo Inc. and some of its directors and officers have reached a $12.5 million settlement in a securities class action alleging that they issued false and misleading information in relation to a new operating system and a merger with Valassis Communications Inc.

In a motion filed Wednesday in the U.S. District Court for the District of Connecticut, the plaintiffs asked for preliminary approval of the deal, which they said was in the best interest of the class.

“Given the complexities of...
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