VASCO Data Security International Inc

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Case Summary
Company Name: VASCO Data Security International Inc
Stock Symbol : (NASDAQ: VDSI)
Class Period Start: 02/18/2014
Class Period End: 07/21/2015
Lead Plaintiff motion: 09/28/2015
Date Filed: 07/28/2015
Type of Case: Securities Class Action
Court: U.S. District Court for the Northern District of Illinois
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the September 28, 2015 lead plaintiff deadline in a class action lawsuit filed against VASCO Data Security International Inc (NASDAQ: VDSI) (“VASCO” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of Illinois and investors, who purchased VASCO securities between February 18, 2014 and July 21, 2015, have until September 28, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased VASCO securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that VASCO’s products were illegally sold to parties in Iran in violation of federal laws prohibiting such sales and that the Company did not have sufficient internal controls in place. The lawsuit alleges that due to the lack of these disclosures, VASCO’s public statements were materially false and misleading during the time period specific in the complaint.

On July 21, 2015, after market-close, 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.

After the release of this news, shares of NASDAQ: VDSI stock declined $0.86, or over 3.22%, on unusually heavy volume, to close at $25.83 on July 22, 2015.

If you were negatively impacted by your investment in VASCO securities between February 18, 2014 and July 21, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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Please find below an excerpt of the complaint filed

VASCO Data Security International Inc Complaint 2015

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