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Friday, January 11, 2013

Bazaarvoice rejects DoJ lawsuit over PowerReviews deal, (NASDAQ: BV)

Bazaarvoice Inc, which helps companies run online consumer reviews, said its purchase of PowerReviews Inc would not reduce competition, after the U.S. Justice Department sued the company to try to force it to sell some assets.Shares of the company fell 12 percent to a life-low in Friday morning trade, after losing 17 percent of their value on Thursday.The department challenged the acquisition and said on Thursday it sought to prevent one firm from dominating the product rating and review platforms market, prompting BMO Capital Markets to cut its rating on the company's stock.Lazard Capital said the lawsuit will be an overhang on the stock and legal expenses could increase operating expenses. The brokerage maintained its "neutral" rating on the stock.

Bazaarvoice, Inc. (Bazaarvoice) is provider of social commerce solutions that help its clients capture, display and analyze online word of mouth, including consumer-generated ratings and reviews, questions and answers, stories, recommendations, photographs, videos and other content about its clients' brands, products or services. Shares of BV fell by 12.82% or $-0.96/share to $6.53. In the past year, the shares have traded as low as $7.48 and as high as $21.10. On average, 623554 shares of BV exchange hands on a given day and today's volume is recorded at 2238175.