ADVO Launches Counter-Suit
Valassis believes ADVO’s opting to not unseal the complaint carries ulterior motives.
“Even now, ADVO is blocking access to information in an attempt to hide the truth,” Valassis said in a release. “Valassis requested that ADVO agree to waive the terms of the confidentiality agreement related to the merger, thus allowing shareholders and the public to review all of the grounds for the lawsuit. ADVO turned down this request, forcing us to redact key facts from the public version of the suit—information that is necessary for investors to properly evaluate both sides of this case.
“If ADVO management has nothing to hide, why would they refuse to provide Valassis and (accountants) KPMG access to information to which Valassis is legally entitled under the merger agreement? We challenge ADVO to waive the confidentiality agreement and release the complete version of the suit. Let shareholders and the public assess the facts themselves.”