ValueClick Reaches $2.9M FTC Settlement

Pay-for-performance marketing services firm ValueClick has agreed to pay $2.9 million to the government to settle deceptive advertising charges brought by the Federal Trade Commission, the company announced last week.

As part of the settlement, the firm admitted no wrongdoing.

The public company also recorded a $2.9 million charge in the fourth quarter of 2007 in anticipation of the settlement, ValueClick reported.

The settlement was based solely on the past practices of ValueClick’s Hi-Speed Media division and not any other ValueClick subsidiary, the company said.

The deal is subject to the approval of the presiding court and the U.S. Department of Justice.

The FTC alleged ValueClick engaged in unspecified advertising practices that violated the Can-Spam Act and the FTC Act. ValueClick and the FTC also have agreed on unspecified standards that will govern its lead generation practices, according to ValueClick.

The company also last week reported a 2007 fourth quarter profit of $18.1 million on revenue of $183 million, compared to a profit of $21.6 million on revenue of $160.4 million in the fourth quarter of 2006.

ValueClick reported a profit of $71.2 million on revenue of $645.6 million in fiscal 2007, compared to a profit of $62.6 million on revenue of $545.6 million in 2006.