Case Page

 

Case Status:    DISMISSED    
On or around 08/19/1997 (Date of order of final judgment)

Filing Date: January 03, 1997

As summarized by the docket posted, on January 29, 1997, the plaintiffs filed an Amended Complaint, and the defendants responded by filing a motion to dismiss the Amended Complaint. On August 19, 1997, the Court entered the Order by U.S. District Judge Willis B. Hunt Jr. granting the defendants’ motion to dismiss the amended complaint. Further, according to the Order, the judge denied as moot the plaintiffs’ previous motion for appointment of lead plaintiffs and plaintiffs' lead counsel. Judgment was entered that day and the case terminated.

The original complaint alleges that during the class period the defendants made material misrepresentations and omissions in connection with the financial condition of the VSI Enterprises (VSI), which had the effect of artificially inflating the market price of the VSI's common stock. The complaint alleges that by virtue of this conduct defendants violated Section 10(b) of the Securities Exchange Act of 1934 (the "34 Act") and SEC Rule 10b-5 thereunder. The Complaint also alleges that defendant Richard K. Snelling was a controlling person within the meaning of Section 20 of the 1934 Act and is therefore liable to the plaintiffs on that basis as well. The Complaint seeks compensatory damages along with pre- and post-judgment interest, reasonable attorneys fees, expert witness fees and other costs.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VSIN
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Georgia
DOCKET #: 97-CV-0009
JUDGE: Hon. Willis B Hunt, Jr.
DATE FILED: 01/03/1997
CLASS PERIOD START: 10/06/1995
CLASS PERIOD END: 01/08/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  2. Lowey, Dannenberg, Bemporad & Selinger, P.C.
    1 North Lexington Avenue, 11th Floor, Lowey, Dannenberg, Bemporad & Selinger, P.C., NY 10601-1714
    914.997.0500 914.997.0035 · ldbs@wesetnet.com
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 97-CV-0009
JUDGE: Hon. Willis B Hunt, Jr.
DATE FILED: 01/29/1997
CLASS PERIOD START: 10/06/1995
CLASS PERIOD END: 01/08/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  2. Lowey, Dannenberg, Bemporad & Selinger, P.C.
    1 North Lexington Avenue, 11th Floor, Lowey, Dannenberg, Bemporad & Selinger, P.C., NY 10601-1714
    914.997.0500 914.997.0035 · ldbs@wesetnet.com
No Document Title Filing Date