A San Diego based law firm announced Sept. 11 that a class action lawsuit has been filed on behalf of Advo Inc. shareholders for the period between July 5 and Aug. 30.
The complaint charges direct mail firm Advo, Windsor, CT, and certain officers and directors with violating the Securities and Exchange Act of 1934.
The complaint alleges that the defendants issued false and misleading statements regarding its business and financial results concealing problems in its long-term financial health and value. The complaint alleges that the defendants concealed this information to accomplish a merger with Valassis Communications Inc., a Livonia, MI-based firm.
The law firm of Learach, Coughlin, Stoia, Geller, Rudman & Robbins LLP filed the lawsuit in the U.S. District Court for the District of Connecticut.
