San Diego, CA -- (SBWIRE) -- 05/01/2012 -- An investigation on behalf of investors in PINK:VISI shares was announced over possible breaches of fiduciary duties in connection with potential wrongdoing by certain directors and officers at Volt Information Sciences, Inc. in connection with certain financial statements.
Investors who are a current (long term) stockholders of Volt Information Sciences, Inc. (PINK:VISI), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible shareholder claims based on potential breaches of fiduciary duties. Specifically, the investigation concerns whether certain directors and officers at Volt Information Sciences, Inc. (PINK:VISI) breached their fiduciary duties. Specifically the investigation concerns certain statements regarding Volt Information Sciences’ business, its prospects and its operations were materially false and misleading at the time they were made.
On September 9, 2009, Volt Information Sciences, Inc. issued a press release announcing that it will delay its third quarter earnings release and investor conference call, previously scheduled for Thursday, September 10, 2009. On October 6, 2009, Volt Information Sciences, Inc. updated the information provided in its press release of September 9, 2009 concerning its reexamination of accounting in prior periods for revenues under certain customer contracts. Then on December 23, 2009, Volt Information Sciences, Inc. updated the information provided in its press release of October 6, 2009. Then on January 15, 2010: Volt Information Sciences, Inc. updated the information provided in its previous press releases concerning its review of whether certain revenues and associated costs under certain customer contracts, recognized during fiscal years 2002 through 2008 and the first two quarters of fiscal 2009 by its Computer Systems segment, should be recognized in periods other than the periods in which they were recognized.
On July 26, 2010, Volt Information Sciences, Inc. announced that the New York Stock Exchange has provided the Company an additional extension, until December 31, 2010, to file its Annual Report on Form 10-K for the year ended November 1, 2009 with the Securities and Exchange Commission in order to maintain the continued listing and trading of the Company’s common stock on the NYSE. On November 8, 2010, Volt Information Sciences, Inc. updated information on its cash and borrowings position and on January 19, 2011, Volt Information Sciences, Inc. provided a business update and reported selected unaudited financial information for its fiscal years 2009 and 2010. Volt Information Sciences said that, due to a previously announced accounting review, all numbers presented in this release are estimates.
On January 26, 2011, Volt Information Sciences, Inc. announced that its common stock will commence trading on the over-the-counter market under OTC: VISI at the opening of trading on January 27, 2011.
Shares of Volt Information Sciences, Inc. (OTC: VISI) fell from as high as $10.75 on April 29, 2011 to as low as $5.56 per share on December 16, 2011
On April 30, 2012, OTC: VISI shares closed at $7.10 per share.
Those who are current long term investors in Volt Information Sciences, Inc. (PINK:VISI) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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