Over the last couple of weeks there have been rumors that ValueClick would be a target of an FTC investigation regarding web properties owned by ValueClick which promote gratis offers. ValueClick denied any knowledge of any such investigation during their last earnings call. Those rumors of an FTC have now become a reality. The SEC 8-K filings mentioned in the above news article can be found here. Government investigations of certain types of cpa offers and the manner in which they are marketed don’t seem to be limited to just ValueClick at the moment. It will be interesting to see how this develops as these types of offers are certainly big business for more than just ValueClick.