LeadClick EAdvertising Closes DoorsWritten by Pace Lattin
September 29, 2011 # 2:14 pm # Industry News # 7 Comments
LeadClickMedia, a CoreLogic company, has reportedly shut their doors. Calls to their office were unreturned, and no one picked up the operator extension. According to employees of the company, the company announced today that they were closing and immediately laid off almost all employees without notice.
Several current employees when asked confirmed that the company was completely shut down and would no longer in business. According to insiders, over 50 employees were handed pink slips today. This does not come unsurprised, as earlier this year some of the more senior employees were let go as part of cost cutting measures.
In 2005 LeadClick media was acquired by First Advantage, paying approximately $150 for a majority stake in the company.
The closing of the company is rumored to be related to both the dwindling company revenues plus a recent expensive class action lawsuit that resulted in what potentially could be a multi-million dollar class-action settlement.