Message #12 From:
NewsBot Date: September 13, 2006 01:47:00 PM
AD News The Law Firm of Goldman Scarlato & Karon, P.C. Announces Class Action Lawsuit Against ADVO, Inc.
CONSHOHOCKEN, Pa.--(BUSINESS WIRE)--Sept. 13, 2006--Goldman Scarlato & Karon, P.C., a law firm with offices in Pennsylvania and Ohio, 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) between July 6, 2006 and August 30, 2006, inclusive, (the "Class Period"). The lawsuit was filed against ADVO and certain officers and directors ("Defendants").
If you are a member of this class and wish to view a copy of a complaint and join this class action, please e-mail us at info@gsk-law.com and request a copy of the complaint and a plaintiff certification. If you are a member of the Class, you may move the Court no later than November 10, 2006 to serve as a lead plaintiff for the Class. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. However, if you choose to remain an absent class member, unless and until a class is certified, you are not represented by counsel.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that during the Class Period, Defendants issued a series of materially false and misleading statements with respect to its business and financial results, concealing material adverse problems with ADVO's business. 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 artificially inflated levels during the Class Period. On August 30, 2006, Valassis announced that it had filed an action to rescind its merger agreement with ADVO. In reaction to this news, shares fell from $36.80 per share to $28.59 per share.
If you bought ADVO securities between July 6, 2006 and August 30, 2006, inclusive, and would like to obtain information about the lawsuit, then you are invited to call (888) 668-4130 to speak with an advisor.
