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Case Status:    SETTLED
On or around 03/30/2007 (Date of order of final judgment)

Filing Date: February 11, 2003

On March 30, 2007, the Court entered the Final Judgment and Order Approving Settlement, Certifying Class, and Dismissal With Prejudice. According to the Order, Class Counsel are awarded fees of $200,000.00 (33 1/3 %) and disbursements of $66,807.53 to be paid from the Settlement Fund. The case is closed.

In a press release dated February 6, 2007, a hearing has been scheduled before the Court on March 29, 2007 for the purpose of determining: (1) whether the Class should be finally certified as satisfying the applicable prerequisites for class action treatment under Fed. R. Civ. P. 23(a) and (b); (2) whether the proposed settlement of the above Action for the principal amount of $600,000, plus accrued interest should be approved by the Court as fair, reasonable and adequate; (3) whether a Final Judgment approving the Settlement and dismissing this litigation on the merits and with prejudice should be entered; and (4) whether an application of Class counsel for the payment of Attorneys' Fees and Expenses are reasonable and should be approved.

On November 17, 2006, a Stipulation of Settlement was filed. According to the Stipulation, a settlement fund in the amount of $600,000 has been established. On January 9, 2007, an Amended Stipulation of Settlement was filed.

According to the latest docket posted, on March 20, 2006, the Court entered the Opinion and Order signed by U.S. District Judge Kenneth A. Marra granting in part and denying in part one defendant’s motion to dismiss and denying another defendant’s motion to dismiss the Second Amended Complaint.

On July 31, 2003, the Court entered the Order granting the joint motion to consolidate the cases and granted the motion to appoint lead plaintiffs and approve lead plaintiffs' selection of co-lead and liaison counsel. On March 10, 2004, the plaintiffs filed a First Amended Class Action Complaint, and motions to dismiss the complaint were filed by the defendants on August 11, 2004. On March 30, 2005, the Court entered the Order granting the motions to dismiss the First Amended Complaint without prejudice, with leave to amend. On May 31, 2005, the plaintiffs filed a Second Amended Complaint, and the defendants filed motions to dismiss the Second Amended Complaint on July 15, 2005.

The original complaint charges defendants with violations of the Securities Exchange Act of 1934. It alleges that defendants issued a series of material misrepresentations that caused plaintiff and other members of the Class to purchase VoiceFlash common stock at artificially inflated prices.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VFNX
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: S.D. Florida
DOCKET #: 03-CV-80099
JUDGE: Hon. Kenneth A Marra
DATE FILED: 02/11/2003
CLASS PERIOD START: 03/15/2002
CLASS PERIOD END: 01/24/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Holzer Holzer & Cannon, LLP
    1117 Perimeter Center West, Suite E-107 , Holzer Holzer & Cannon, LLP , GA 30338
    888.508.6832 · holzerlaw@aol.com
  3. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  4. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  5. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
  6. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 03-CV-80099
JUDGE: Hon. Kenneth A Marra
DATE FILED: 05/31/2005
CLASS PERIOD START: 03/15/2002
CLASS PERIOD END: 01/24/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  2. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
  3. Weiss & Lurie (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Lurie (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
  4. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date