Building building backlinks from networked sites

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I have read a bit about Class C IP address servers, but I wanted to get some clarification.

The company I work for has a large amount of unused domain names that did (some still do) a pagerank of 2-4. We run an ecommerce retail website and we want to start blogs at all of these unused domains (niche specific) and make them into info sites and use them to drive traffic and get backlinks towards our main retail site.

The question I have is if I don't get these divided up (there will be about 40 of them) on separate Class C IP servers will we get slapped by Google? I know I could get them all up on a regular unlimited domains hosting plan, but I think I read that this is not too smart...

Any thoughts?
#backlinks #building #networked #sites

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