MediaBuyerPlanner: Advo Inc. has filed a counterclaim against Valassis Communications Inc., which commenced litigation last month seeking to rescind its offer to acquire Advo.

Advo is seeking a court declaration that Valassis has no right to rescind or terminate its obligations under the July 5 binding merger agreement, writes DM News. Valassis filed a claim on Aug. 30 stating that Advo management lied about the company's financial health, provided false financial information and withheld material information.

Related stories:

• Valassis Seeks to Rescind Advo Offer


• Valassis Buys Advo for $1.3 Billion