DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against VASCO Data Security International, Inc. (“VASCO” or “Company”) (NasdaqCM: VDSI) and several officers and directors for acts taken during the period of February 18, 2014 to July 21, 2015 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of VASCO. If you are an affected VASCO shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via email at email@example.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants’ misrepresented and/or failed to disclose that its products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales. The complaint also alleges that VASCO lacked adequate internal controls. VASCO announced in an 8-K filed with the SEC that certain products sold by a VASCO European subsidiary to a third-party distributor may have been resold to parties in Iran. When the truth emerged the Company’s stock fell over 3%.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.