A lawsuit was filed on behalf of investors in VASCO Data Security International, Inc. (NASDAQ:VDSI) shares over alleged securities laws violations and NASDAQ:VDSI investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/26/2015 -- An investor in NASDAQ:VDSI shares filed a lawsuit over alleged violations of Federal Securities Laws by VASCO Data Security International, Inc. in connection with certain allegedly false and misleading statements made between February 18, 2014 and July 21, 2015.
Shares of VASCO Data Security International, Inc. (NASDAQ:VDSI) declined from $34.63 per share in June 2015 to as low as $15.00 per share on August 24, 2015.
Investors who purchased shares of VASCO Data Security International, Inc. (NASDAQ:VDSI) have certain options and for certain investors are short and strict deadlines running. Deadline: September 28, 2015. NASDAQ:VDSI investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The plaintiff claims that between February 18, 2014 and July 21, 2015, defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that VASCO Data Security International's products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales, that VASCO Data Security International, Inc. lacked adequate internal controls, and that as a result of the foregoing, VASCO Data Security International' public statements were materially false and misleading at all relevant times.
On July 21, VASCO Data Security International, Inc disclosed that certain of its products which were sold by a VASCO European subsidiary to a third-party distributor may have been resold by the distributor to parties in Iran, potentially including parties whose property and interests in property may be blocked pursuant to Executive Order 13224, Executive Order 13382 or that may be identified under Section 560.304 of 31 C.F.R. Part 560 as the 'Government of Iran. VASCO Data Security International, Inc said that the Audit Committee of the Company's board of directors has initiated an internal investigation and the company has stopped all shipments to the distributor at issue pending resolution of the investigation.
Those who purchased shares of VASCO Data Security International, Inc. (NASDAQ:VDSI) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com