WAYNE, Pa., July 31, 2015 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in the United States District Court for the Northern District of
Illinois on behalf of purchasers
of common stock of VASCO Data Security International, Inc. ("VASCO"
or the "Company") (NASDAQ: VDSI) between February 18, 2014 and July
21, 2015, inclusive (the "Class Period").
VASCO shareholders may, no later than September 28, 2015, move the Court for
appointment as a lead plaintiff of the Class. If you purchased
shares of VASCO and would like to learn more about these claims or
if you wish to discuss these matters and have any questions
concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/vdsi.
VASCO Data Security International, Inc., together with its
subsidiaries, designs, develops, markets, and supports hardware and
software security systems that manage and secure access to
information assets worldwide. VASCO Data's computer security
subsidiaries include VASCO Data Security, Inc. in Illinois, and VASCO Data Security nv/sa of
Belgium. The Company sells its
security solutions through its direct sales force, distributors,
resellers, and systems integrators.
The Complaint alleges that throughout the Class Period,
defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, 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.
As a result of this news, shares of VASCO fell $0.86, or over 3.22%, on unusually heavy volume,
to close at $25.83 on July 22, 2015.
If you are a member of the class, you may, no later than
September 28, 2015, request that the
Court appoint you as lead plaintiff of the class. A lead plaintiff
is a representative party that acts on behalf of other class
members in directing the litigation. In order to be appointed lead
plaintiff, the Court must determine that the class member's claim
is typical of the claims of other class members, and that the class
member will adequately represent the class.hig Under certain
circumstances, one or more class members may together serve as
"lead plaintiff." Your ability to share in any recovery is
not, however, affected by the decision whether or not to serve as a
lead plaintiff. You may retain Ryan & Maniskas, LLP or
other counsel of your choice, to serve as your counsel in this
action.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide. To learn more
about the class action process, please visit:
www.rmclasslaw.com.
CONTACT:
Ryan & Maniskas, LLP
Richard
A. Maniskas, Esquire
995 Old Eagle School Rd.,
Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/vdsi
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP