Valassis Communications, Inc. NYSE: VCI

A lawsuit seeking class action status has been filed in the United States District Court for the Eastern District of Michigan on behalf of all persons (the "Class") who purchased the securities of Valassis Communications, Inc. (NYSE: VCI - News); ("VCI" or the "Company") during the period between April 25, 2002 and October 23, 2002 (inclusive) (the "Class Period").

The Complaint alleges that, during the Class Period, the Company, which prints, markets and distributes advertising inserts for newspapers, violated Sections 10(b) and 20(a) of the Securities Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that, as part of its ongoing efforts to create and continue the illusion of VCI's performance and future profitability, the Company knowingly or recklessly issued and/or participated in the issuance of materially false and misleading statements and financial information. The Complaint also alleges that, during the Class Period, the Company failed to disclose that its rising prices were negatively impacting its ability to win business, and that it was also seeing increased competition in its free-standing insert business.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.