The Shuman Law Firm Investigates Volt Information Sciences, Inc.
19 Mai 2012 - 2:00AM
Business Wire
The Shuman Law Firm today announced that it is investigating
potential claims against certain officers and directors of Volt
Information Sciences, Inc. (“Volt" or the "Company”) (OTC:
VISI.PK).
The Firm’s investigation focuses on the Company’s ongoing
inability to file financial results. Specifically, in September
2009, Volt announced it could not file its 2009 third quarter
financial results due to a reevaluation of revenue recognition
policies and other accounting issues. The exact nature of the
accounting errors has not been disclosed. Since then, the company
has failed to file a financial statement. These actions have
resulted in the May, 2011 removal of the Company’s stock from
listing by the New York Stock Exchange.
Recently, on May 3, 2012, the Company announced that Steven A.
Shaw, the Company’s President and Chief Executive Officer, had
resigned his positions with Volt. The Company’s common stock
currently trades for approximately $7.15 a share, down from a high
of more than $12.00 per share prior to the September 2009
announcement regarding ongoing accounting errors.
If you currently own Volt common stock and are interested in
discussing your rights as a shareholder, or have information
relating to this investigation, please contact Kip B. Shuman or
Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at
kip@shumanlawfirm.com or email Mr. Glenn at
rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in securities class actions and
shareholder derivative actions.
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