Levi & Korsinsky announces the filing of a class action lawsuit in the USDC for the Northern District of Illinois Eastern Division on behalf of shareholders who purchased securities of VASCO Data Security International, Inc. (NASDAQ: VDSI) between February 18, 2014 and July 21, 2015.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) VASCO’s products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales; (2) the Company lacked adequate internal controls; and (3) as a result of the foregoing, VASCO’s public statements were materially false and misleading at all relevant times. On July 21, 2015, after the market closed for trading, VASCO filed a Form 8-K with the SEC announcing “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” subject to U.S. economic sanctions. If you suffered a loss in VASCO you have until September 28, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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