LiveDeal Settles Class Action Lawsuit
LAS VEGAS, NV -- (Marketwired) -- 06/25/13 -- LiveDeal, Inc.
(NASDAQ: LIVE) announced today that the company recently finalized a
settlement in the class action lawsuit Global Education Services,
Inc. v. LiveDeal, Inc., et al. Final approval of the settlement
occurred on May 27, 2013, marking the formal end of the litigation.
Dismissal of the lawsuit is pending.
"While we believe the allegations in the lawsuit were without merit,
we're thrilled to have reached this favorable settlement," said Jon
Isaac, President and CEO of LiveDeal. "We remain firmly committed to
our longstanding ethical and transparent advertising standards."
Global Education Services, Inc., the lead plaintiff, filed the
complaint on June 6, 2008 challenging the company's disclosure
practices under its "activator check" promotion. Specifically, the
plaintiff claimed that consumers were not adequately informed that
cashing "activator checks" would result in the purchase of the
company's advertising services. The complaint was brought on behalf
of residents of Washington state who cashed an activator check after
June 6, 2004. LiveDeal discontinued the promotional program in
The parties have now mutually agreed to a settlement. As is typical,
the lawsuit was conditionally certified for settlement purposes only
without concession by either party as to the legal propriety of class
About LiveDeal, Inc.
LiveDeal, Inc. provides marketing solutions that boost customer
awareness and merchant visibility on the Internet. LiveDeal recently
launched two new business lines under new management after a period
of re-evaluating the company's sales program, products, distribution
methods, and vendor programs. In November 2012, LiveDeal commenced
the sale of marketing tools that help local businesses manage their
online presence under the company's Velocity Local(TM) brand, which
LiveDeal refers to as online presence marketing. Previously, in
August 2012, LiveDeal commenced sourcing local deal and activities to
strategic publishing partners under its LiveDeal(R) brand, which the
company refers to as promotional marketing. LiveDeal continues to
actively develop, revise, and evaluate these products and services
and its marketing strategies and procedur
es. For more information,
Forward-Looking and Cautionary Statements
This press release contains "forward-looking" statements that are
based on present circumstances and on LiveDeal's predictions with
respect to events that have not occurred, that may not occur, or that
may occur with different consequences and timing than those now
assumed or anticipated. Such forward-looking statements, including
any statements regarding the plans and objectives of management for
future operations or products, the market acceptance or future
success of our products, and our future financial performance, are
not guarantees of future performance or results and involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the
Forward-looking statements are made only as of the date of this
release and LiveDeal does not undertake and specifically declines any
obligation to update any forward-looking statements. Readers should
not place undue reliance on these forward-looking statements.
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