WESTLAKE VILLAGE, Calif., Feb 13, 2008 (BUSINESS WIRE) -- ValueClick, Inc. (Nasdaq: VCLK) today announced a settlement with
the Federal Trade Commission (FTC) regarding the Company's lead
The FTC alleged that the Company utilized deceptive marketing
practices that violated the CAN-SPAM Act and FTC Act. In an effort to
resolve this matter, ValueClick agreed to a settlement payment of $2.9
million without an admission of liability or conceding that the
Company violated any laws. In addition, the Company and the FTC have
agreed on the standards that will govern its lead generation business.
The settlement is based solely on the past practices of the
Company's Hi-Speed Media division and not WebClients or any other
ValueClick subsidiary, and is subject to approval by the Department of
Justice and the presiding court.
"We have worked with the FTC and have reached an agreement on the
standards and practices that will govern our lead generation business
going forward," said David Yovanno, chief operating officer of U.S.
Media. "We believe this settlement will also help set the guidelines
for the lead generation industry as a whole, and we will continue to
participate in the Interactive Advertising Bureau to help establish best
practices to that end."
In the fourth quarter of 2007, ValueClick recorded a $2.9 million
charge in anticipation of the settlement discussed above. Please see
ValueClick's fourth quarter 2007 financial results press release,
which was published concurrently with this announcement, for more
details on the Company's financial performance.
The Company also announced today that is has completed its
previously-announced initiative to consolidate its lead generation
activities into the Company's WebClients division, which now reports
to chief operating officer of U.S. Media, David Yovanno.
ValueClick, Inc. (Nasdaq: VCLK) is one of the world's largest
integrated online marketing services companies, offering comprehensive
and scalable solutions to deliver cost-effective customer acquisition
for advertisers and transparent revenue streams for publishers.
ValueClick's performance-based solutions allow its customers to reach
their potential through multiple online marketing channels, including
affiliate and search marketing, display advertising, lead generation,
ad serving and related technologies, and comparison shopping.
ValueClick brands include Commission Junction, ValueClick Media,
Mediaplex, Smarter.com, CouponMountain.com, and PriceRunner. For more
information, please visit www.valueclick.com.
This release contains forward-looking statements that involve
risks and uncertainties, including, but not limited to, the risk that
market demand for on-line advertising in general, and performance
based on-line advertising in particular, will not grow as rapidly as
predicted, and the risk that legislation and governmental regulation
could negatively impact the Company's performance. Actual results may
differ materially from the results predicted, and reported results
should not be considered an indication of future performance.
Important factors that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements are
detailed under "Risk Factors" and elsewhere in filings with the
Securities and Exchange Commission made from time to time by
ValueClick, including, but not limited to: its annual report on Form
10-K filed on March 1, 2007; recent quarterly reports on Form 10-Q;
and other current reports on Form 8-K. ValueClick undertakes no
obligation to release publicly any revisions to any forward-looking
statements to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
SOURCE: ValueClick, Inc.
Gary J. Fuges, CFA, 1-818-575-4677